Uranium One Begins Paraguay Exploration Program
The company has started its first exploration work at the Yuty Prometeo-San Jose uranium project in southeast Paraguay.
Updated on Nov. 3, 2026 in Nuclear
Uranium One has begun its first exploration program at the Yuty Prometeo-San Jose uranium project, which covers 90,000 hectares in the Paraná Basin of southeast Paraguay. Separately, Uranium Energy announced a $12 million investment in its own uranium concession in the country.
Why it matters
The project sits in a region that is drawing attention to uranium potential, and the work is aimed at refining targets for further exploration. The activity follows a recent US Department of State announcement of new US-Paraguay initiatives on peaceful nuclear uses.
The exploration program covers a project area of 90,000 hectares, and up to 100 rock or soil samples are planned from selected areas to refine targets. The results of the sampling and whether the geochemical anomalies translate into viable uranium resources have not yet been reported.
The players
Uranium One
Uranium One is a uranium exploration company that holds the prospection permit for the Yuty Prometeo-San Jose project in Paraguay.
Uranium Energy Corp.
Uranium Energy Corp. is a US uranium company that announced a $12 million investment in its Yuty Project in Paraguay, next to the Uranium One concession.
US Department of State
The US Department of State is the federal agency responsible for US foreign policy, and it announced new cooperation initiatives with Paraguay on peaceful nuclear uses.
The details
The program evaluates historical data, investigates uranium geochemical anomalies, and verifies old drilling locations originally attributed to Anschutz. Field teams use a portable scintillometer to record natural gamma radiation and examine outcrops and quarries to collect samples. The Yuty Prometeo concession lies adjacent to Uranium Energy's Yuty Project, which hosts an established uranium resource.
Timeline
- Last month: The US Department of State announced new US-Paraguay initiatives for cooperation around peaceful nuclear uses.
- Last month: Uranium Energy announced a $12 million investment in its Paraguay uranium concession.
- November 3, 2026: Uranium One's exploration program was reported as begun.
Big Picture
The exploration work follows the US Department of State's recent announcement of US-Paraguay initiatives on peaceful nuclear uses, moving that diplomatic framework toward on-the-ground uranium prospecting. Whether Paraguay's Paraná Basin becomes a source of uranium supply for those cooperation efforts will depend on the results of the planned sampling.
For readers following nuclear fuel supply, the program is an early-stage step: sampling results will determine whether any target advances to further drilling. Readers tracking uranium investment can watch how the adjacent Yuty Project's established resource and the new $12 million investment shape the concession's development.
The takeaway
Early exploration results at a uranium project usually take months to arrive, so the planned sampling of up to 100 rock or soil samples is the next concrete signal. Watching whether those results point to drilling targets will show how promising the Paraguay concessions are.
Further reading
Explore more in Nuclear, where this exploration work fits within the wider nuclear fuel supply picture.
Source note: This article includes information reported by Mining Technology.
