Wednesday, 9 July 2025
US microreactor technology company NANO Nuclear Energy Inc has signed a memorandum of understanding with Buenos Aires-based private uranium exploration company UrAmerica Ltd to help modernise and develop Argentina’s nuclear fuel supply chain.
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UrAmerica has focused its efforts on developing the properties it has successfully consolidated in the San Jorge Basin, in Argentina’s Chubut Province, surrounding known high-grade deposits and historical mines. The company, through its subsidiary UrAmerica Argentina SA, fully owns licences of uranium deposits in the San Jorge Basin.
The newly-signed MOU formalises discussions that NANO Nuclear initiated with UrAmerica to explore strategic development across Argentina’s uranium-fuel supply chain. Both companies are now working to evaluate specific opportunities, ranging from mining and conversion to uranium hexafluoride (UF6) feedstock supply, that could aid NANO Nuclear in securing a dependable source of material for future supply chain options. Such evaluations, it said, may lead to the signing of definitive agreements between NANO Nuclear and UrAmerica related to particular projects.
Under the MOU, the companies will pursue: favourable uranium offtake agreements; potential investments in mineral production and fuel-cycle infrastructure; and future joint ventures or related collaboration.
NANO Nuclear said one of its goals in entering into the MOU was “to help modernise Argentina’s nuclear sector while strengthening US energy security by sourcing materials for nuclear fuel from a reliable partner”.
“We are pleased to formalise our discussions with UrAmerica through this MOU as we seek to further extend NANO Nuclear’s international footprint,” said Jay Yu, founder and Chairman of NANO Nuclear. “By collaborating with UrAmerica, we aim to position Argentina as a regional centre for nuclear technology and a reliable supply-chain partner for the United States, strengthening the country’s existing infrastructure while advancing our shared goals.”
NANO Nuclear CEO James Walker added: “Argentina holds substantial deposits of strategic metals, like uranium, that could be a strategic supplier to us in the future. The timing is also favourable, as the Argentine government is actively looking to reform its nuclear sector to attract international investment. We look forward to advancing our discussions and exploring future opportunities in South America.”
“This Memorandum of Understanding with NANO Nuclear marks a pivotal step forward in unlocking the vast potential of Argentina’s uranium resources, aligning perfectly with UrAmerica’s mission to drive sustainable and secure critical mineral supply chains,” said Omar Adra, Executive Director and CEO of UrAmerica Ltd. and President of UrAmerica Argentina SA. “Our extensive licences package in the San Jorge Basin holds world-class uranium deposits, and through this collaboration, we aim to not only meet the growing global demand for nuclear fuel but also position Argentina as a key strategic partner for the United States in energy security.
“By leveraging UrAmerica’s expertise in mineral exploration and NANO Nuclear’s advanced nuclear technology and expertise, we are hopeful that this collaboration will catalyse investments in mining, milling, and fuel cycle development, delivering long-term economic benefits for Argentina while supporting the US in diversifying its nuclear supply chain away from geopolitical risks.”
Previous agreement with Cameco
In October 2011, UrAmerica entered into a strategic alliance agreement with Canada’s Cameco, focused only on uranium exploration in its extensive multi-mineralised district. A drilling campaign was completed in 18 months by UrAmerica, which provided data for a NI43-101 Technical Report for a mineral resource estimate totaling 27.9 million tonnes with an average grade of 310 ppm U3O8 for a contained 19.1 million pounds of U3O8 (7349 tU) using a cut-off grade of 200 ppm. The geometry, host rock and hydrogeological setting of the uranium mineralisation may favour extraction of uranium by in-situ recovery.
UrAmerica has quantified exploration targets immediately adjacent to various inferred resources up to 65.4 million pounds U3O8 (25,163 tU) with an average grade of 285 to 362 ppm U3O8.
In 2013, due to the depressed market for uranium following the accident at Japan’s Fukushima Daiichi nuclear power plant, Cameco and UrAmerica agreed to end their partnership.
