Uranium: Brazil's CVRD joins Australia Uranium Project

Dioro Exploration NL of Australia and CVRD have signed a deal to explore two Uranium projects in Western Australia.
The farm-in deal marks the first time CVRD has ventured into Uranium exploration, just when Brazil has decided to resume its nuclear power plant program and complete a long-stalled third nuclear reactor project.
Brazil has the world's sixth-biggest Uranium reserves, and CVRD, along with other miners, has been trying to get Uranium exploration concessions from the government, which now has a monopoly in the sector.
CVRD would spend 4 million Australian dollars ($3.5 million) on exploration of the Kunderong and the Kennedy projects in the next four years, giving the Brazilian company the right to 60 percent of Uranium on site.
Demand for Uranium has been growing in the world as concerns about global warming increase the appeal of nuclear power.
For more information click here and read the article in Reuters website