The Steenkampskraal Monazite Mine (SMM), located in the Western Cape, is one of the highest concentrations of earth elements and thorium in the world. The agreement involves the efficient processing of Steenkampskraal's mineral resources to produce valuable emitters for use in next-generation cancer therapies by Thor Medical.
Alf Bhorseth, CEO of Thor Medical, said: ‘The co-operation with Steenkampskraal can support Thor Medical's ambitions for planned industrial-scale production to meet the growing demand for medical isotopes worldwide. We look forward to developing partnership agreements with Steenkampskraal as we build our supplier network."
It was announced that SMM has complied with all the rules of the Ministry of Mineral Resources and Energy, the National Nuclear Regulator and the Ministry of Water and Sanitation and has all the necessary licences for the project to start operations.
It was announced that renovation work has started at the Steenkampskraal mine and the mine is planned to start construction at the end of 2024. The first Thorium production is expected to start at the end of 2025.
‘We look forward to the co-operation agreement with Thor Medical to increase the financial and strategic value of our Monazite ore,’ said Enock Mathebula, Chief Executive Officer of Steenkampskraal.
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