Kazatomprom signs uranium supply contract with Brazil's INB

The agreement, the details of which were not disclosed, reinforces the geographic diversity of the world's biggest uranium supplier's contract portfolio, "highlighting the on-going success of its revitalised marketing function", it said. Kazatomprom initially signed a contract with INB in 2018, following a similar competition.

INB is a state-owned enterprise for the production and commercialisation of nuclear materials. It is licensed and supervised by the National Atomic Energy Commission, the Brazilian Institute for the Environment and Renewable Natural Resources, and the International Atomic Energy Agency.

Brazil has two nuclear reactors, Angra 1 and 2, which generate about 3% of its electricity, and a third under construction. Minister for Mines and Energy Bento Albuquerque said in April that the country’s national energy plan to 2050 will consider new nuclear power plants including generation IV technology and small modular reactors to meet growing national electricity demand.