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LatinNews Daily - 15 August 2022
In brief: Brazil authorises public-private partnerships for uranium extraction
* Brazil’s President Jair Bolsonaro has signed an executive decree (MP) authorising private companies to enter partnerships with state-controlled uranium company Indústrias Nucleares do Brasil (INB). Currently, only the INB is permitted to mine and sell radioactive minerals. If these are found in an ordinary mining concession and are determined by regulators to have a higher value than other, non-radioactive minerals present at the site, the concession is taken over by the state. According to a statement from the mining and energy ministry, the new policy will increase business confidence and lead to heightened investment in uranium extraction by increasing the private sector’s involvement. For the MP to maintain its validity, it must be ratified by congress within 120 days.
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