Thor Energy (ASX:THR) has signed a binding agreement with DISA Technologies to seek to evaluate and treat historically abandoned uranium mine waste dumps and recover saleable uranium and other critical minerals concentrates at the Colorado claims in the US.
DISA has received its final US Nuclear Regulatory Commission Service Providers Licence to remediate abandoned uranium mine waste.
The company says this paves the way for a deployment of DISA’s patented technology on the Colorado projects in the future.
As part of the deal, Thor’s subsidiary Standard Minerals will be paid a gross revenue share of any saleable uranium and other critical mineral concentrates recovered from waste at the Colorado projects. This will be done via deployment of DISA’s modular mobile plants using the patented high-pressure slurry ablation system.
No capex or opex is required to be paid by Thor or Standard Minerals.
DISA will be the operator of the Colorado projects and will pay all associated costs of economic evaluation, permitting, treatment, and ongoing remediation.
Thor CEO Andrew Hume says this agreement finalises the details under which Thor will generate revenue from the recovery of uranium and critical metals from its Colorado projects.
“It is also fantastic to report that the US Nuclear Regulatory Commission has granted DISA a Service Provider’s Licence to remediate abandoned uranium mine waste,” Hume says.
“DISA is now the first company in the US to receive such approvals.”
Hume adds that the company will begin on-the-ground activities as the parties move towards a uranium and critical metals production scenario.
DISA Technologies is focused on mineral recovery serving the mining and remediation sectors.
Thor Energy is focused on primarily hydrogen and helium exploration, while also holding a portfolio that includes uranium and other energy metals.
Write to Aaliyah Rogan at Mining.com.au
Images: Thor Energy
