The state-run firm will now be allowed to partner with private companies for uranium exploration and mining. INB would be able to also team up in related activities, such as processing of uranium ores, uranium enrichment and production, as well as the development of nuclear power technologies, the lower house said in a statement.
The proposed amendment must now be approved by the senate by December 9, otherwise it loses validity.
Brazil has the sixth largest uranium reserves in the world, but only a third of the country has been explored for the radioactive material, data from the World Nuclear Association shows.
Mining from the new open pit, Engenho, is expected to make the country self-sufficient in terms of feeding its nuclear power reactors.
Brazil’s only nuclear plant has two operating reactors, which generate about 3% of the nation’s electricity.
Construction of a third reactor resumed November, after being stalled for over seven years.