Thorium
Marketing Strategy
SMM’s marketing efforts will focus on highlighting the quality and sustainability of the REE products. SMM is engaging with potential customers through trade shows, industry conferences, and digital marketing channels. Additionally, SMM has established long-term contracts with key clients to ensure a steady revenue stream.
The potential of supplying Thorium as an alternative, clean and safe nuclear fuel for power generation is also being explored.
Studies are continuing to provide various daughter products (228Ra) from the Thorium decay chain to provide medical isotopes for cancer treatment. A MoU has been signed with Thor Medical to implement this strategy.
Potential Uses of Thorium and Radium-228
Molten Salt Reactor
MSR interest resumed in the new millennium due to continuing delays in fusion power and other nuclear power programs and increasing demand for energy sources that would incur minimal greenhouse gas (GHG) emissions.
Relative to other Generation IV designs, a typical MSR uses only proven engineering concepts by leveraging proven technologies in a unique way. This is meant to reduce licensing and timeline risks that have slowed the adoption of other approaches.
Thorium Molten Salt Reactor
Copenhagen Atomics has developed a Thorium based molten salt reactor with the same footprint as a 40-foot shipping container, which delivers 100 MW of thermal energy per unit and is expected to reach an electricity price (LCoE) below $20/MWh in a mass manufacturing scenario.
By adopting thorium molten salt reactor technology, South Africa could address its energy supply challenge sustainably, affordably, and safely, while reducing environmental impact and fostering economic growth.
“Information courtesy of Copenhagen Atomics”
Thorium as a Nuclear Fuel
Thorium is gaining attention as a potential nuclear fuel source due to its abundance, improved safety characteristics, and reduced proliferation risks compared to conventional uranium-based fuels. Thorium is the predominant radioactive element prevalent in the monazite ore at Steenkampskraal.
Abundance
Thorium is more abundant in the Earth’s crust than uranium, making it an attractive alternative for long-term sustainable energy production. Estimates suggest that thorium reserves are several times greater than uranium reserves.
Safety
One of the key advantages of thorium-based nuclear fuel is its improved safety characteristics. Thorium reactors operate at lower pressures and temperatures compared to conventional uranium reactors, reducing the risk of accidents and mitigating the potential for catastrophic events like meltdowns.
Reduced Proliferation Risks
Unlike uranium, thorium cannot be directly used to produce nuclear weapons-grade material. This inherent proliferation resistance makes thorium-based nuclear energy systems potentially less attractive for weaponization, enhancing global security.
Waste Reduction
Thorium reactors have the potential to produce significantly less long-lived radioactive waste compared to conventional uranium reactors. This is due to the efficient use of thorium fuel and the generation of fewer transuranic elements during the nuclear fission process.
Fuel Efficiency
Thorium-based nuclear fuel offers higher fuel efficiency and burn-up rates compared to uranium-based fuels. This means that a greater percentage of the thorium fuel is consumed during the reactor operation, resulting in less waste and longer intervals between refuelling.
Potential Reactor Designs
Several reactor designs have been proposed for thorium-based nuclear energy systems, including molten salt reactors (MSRs) and accelerator-driven systems. These designs offer unique advantages such as inherent safety features, online refuelling capabilities, and flexibility in fuel cycles.
Challenges and Research Needs
Despite its promise, thorium-based nuclear energy is still in the research and development phase. Significant challenges remain, including the development of suitable reactor technologies, fuel fabrication processes, and regulatory frameworks. Research efforts are ongoing to address these challenges and demonstrate the feasibility of thorium-based nuclear energy on a commercial scale.
Global Interest
Several countries, including India, China, and the United States, are actively exploring thorium-based nuclear energy as part of their long-term energy strategies. India, in particular, has made significant investments in thorium reactor research and development, aiming to harness its abundant thorium reserves for energy production.
In summary, Thorium holds promise as a sustainable and potentially safer alternative to conventional uranium-based nuclear energy. While significant research and development efforts are still needed to realize its full potential, thorium-based nuclear energy could play a crucial role in meeting future energy demands while addressing safety, proliferation, and waste management concerns.
