Overview
- U.S.-based Nano Nuclear Energy has filed a private proposal to Argentina’s Economy Ministry to finish and run Dioxitek’s unfinished Formosa uranium facility, and officials say the review process is underway.
- Under the plan, state firm Dioxitek would keep ownership while granting use rights to a new venture, and Nano would fund completion and take part in operations.
- The project would first produce uranium dioxide to supply Atucha I, Atucha II and Embalse, then add a unit to convert it into uranium hexafluoride, a gas used for enrichment and sold on global markets.
- Officials estimate a three to four year path to initial output if approved, with the companies projecting at least 200 jobs during construction and early operations.
- The government says the investment could seek national tax benefits under the large-project RIGI program even though Formosa has not joined it, and it would revive a plant left about 60% built since work began in 2014.