Nano Nuclear Energy Inc. (NASDAQ:NNE) announced Wednesday that it has entered into a Memorandum of Understanding with Argentina’s Dioxitek, the country’s only producer of uranium dioxide used in nuclear fuel fabrication.
The agreement outlines a framework to assess Argentina’s existing conversion infrastructure and explore future cooperation on enrichment capabilities.
The partnership focuses on evaluating how uranium dioxide, commonly referred to as “yellowcake,” can be converted into uranium hexafluoride, a critical feedstock for nuclear fuel enrichment.
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By leveraging Argentina’s existing facilities, the two companies will study the feasibility of creating a domestic enrichment line to strengthen the country’s nuclear supply chain.
Argentina, which holds strategic uranium reserves, has an opportunity to reduce dependence on external suppliers by developing local uranium dioxide production.
The United States and Argentina already maintain a 123 Agreement for peaceful nuclear cooperation, providing a legal framework that supports projects like this.
Expanding conversion capacity would position Argentina as a contributor to easing the global shortage of enrichment feedstock.
Jay Yu, founder and chairman of Nano Nuclear, said the collaboration with Dioxitek represents a significant milestone for the company’s South American ambitions and offers access to data that could influence the worldwide fuel cycle.
James Walker, Nano Nuclear’s chief executive, emphasized that Argentina’s technical expertise and policy focus on energy independence align with the company’s long-term strategy.
This latest agreement adds to Nano Nuclear’s growing footprint in Argentina and reflects its broader ambition to strengthen global supply chains for nuclear fuel.
If successful, the initiative could reinforce Argentina’s position in the international nuclear market while contributing to a more secure and diversified supply of enrichment materials.
According to Benzinga Pro, NNE stock has gained over 202% in the past year.
Price Action: NNE shares are trading higher by 0.22% to $32.40 at last check Wednesday.
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