Argentina Eyes Uranium Production Revival After 30 Years

Argentina is looking to re-enter uranium production after nearly three decades, with the government prioritizing self-sufficiency and aiming to become a supplier in the global market for critical minerals. The administration of President Javier Milei has outlined a Nuclear Plan that includes 21 uranium mining projects.

Historically, Argentina produced uranium from the Huemul mines (1955-1975) and Sierra Pintada (1975-1997). Since then, the country has imported uranium to fuel its three nuclear power plants, which currently provide 7% of its electricity. Official data indicates identified uranium resources of 34,250 tons, with ongoing exploration expected to increase this figure.

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We have reasonably assured resources to supply domestic demand for 41 years, but if we add the inferred resources, we have almost 35,000 tons, which is equivalent to 140 years of demand for the three reactors.

Mario Capello, an engineer and former Undersecretary of Mining Development, stated that identified resources are sufficient for 41 years of domestic demand. He added that inferred resources could extend this supply to 140 years for the three reactors. The rising global price of uranium is also making national production more economically attractive, according to Ignacio Celorrio, former president of the Argentine Chamber of Uranium Companies.

Argentina's Ministry of Mining reports 21 uranium projects, 14 of which are active across several provinces. Many are managed by the National Atomic Energy Commission, which plans to reactivate the Sierra Pintada and Cerro Solo mines. Several private and provincial state-owned companies also hold exploration rights, with Canadian firms Jaguar Uranium and Blue Sky Uranium advancing projects in Chubut and Río Negro, respectively.

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The price of uranium is recovering quite significantly, which is incentivizing activity at the national level again.