Zenith Energy advances Italy’s largest uranium deposit applications

Zenith Energy Ltd., through its Italian subsidiary Canoel Italia S.p.A., announced the acceptance of exploration permit applications for Italy’s largest uranium deposits, Val Vedello and Novazza. This marks a significant milestone, as these projects are now solely subject to the Environmental Impact Assessment (EIA) process. This leads Zenith to a clear pathway for securing control of these historically estimated 15m pounds of U3O8 deposits, valued at over $1bn.

The Val Vedello and Novazza deposits, originally discovered by AGIP Nucleare S.p.A., feature extensive underground infrastructure. This enables rapid and cost-efficient redevelopment. Zenith established Futuro Energetico Italiano SRL (FEI) to manage these projects, with a scheduled submission of comprehensive EIA documentation to the Italian Ministry for Environment and Energy Security (MASE) in January 2026. Zenith aims for final license issuance by mid-2026.

The initial exploration phase, projected to cost up to $5m over three years, will be funded by Zenith's internal resources and institutional investments, with potential co-financing from Italian and EU subsidies. This initiative aligns with Italy’s renewed interest in nuclear energy and critical mineral resources, positioning Zenith to contribute to Europe's clean-energy transition.