Statements from Brazilian government officials or reports from major news outlets

China Acquires Brazil's Largest Uranium Reserve in Presidente Figueiredo for $340 Million, Raising Sovereignty Concerns

Nov 28, 2024, 01:07 PM

A Chinese company has acquired Brazil's largest uranium reserve located in Presidente Figueiredo, Amazonas, for approximately R$ 2 billion (about $340 million). The deal, involving the China Nonferrous Trade Co. Ltd., a subsidiary of the China Nonferrous Metal Mining Group Co., has raised concerns regarding national sovereignty and security. The mine, which also contains tin, niobium, and tantalum, has been described as a strategic resource essential for energy development. Brazilian officials and local politicians have expressed alarm over the implications of foreign ownership of such a significant resource, emphasizing the need for scrutiny over the transaction's legality and potential risks to Brazil's energy independence. The sale has sparked debate about environmental regulations and the role of international investments in the Amazon region.