Thor Medical ASA’s in Norway has announced progress in cancer treatment through targeted thorium-based alpha therapy in its partnership with South Africa’s Steenkampskraal Monazite Mine (SMM).
“With Thor Medical’s AlphaOne plant nearing completion and SMM advancing toward full-scale operations by late 2026, the partnership promises to meet growing demand for medical isotopes such as Thorium-228,” explained SMM CEO Graham Soden.
“Thor Medical’s recent five-year supply agreement, valued at NOK 200 million (US$20 million) with a global leader in targeted alpha therapy, highlights the growing need for Thorium-228, vital for treating cancers.”
Jasper C. Kurth, CEO of Thor Medical, added, “The AlphaOne facility, set to be fully operational by Q3 2026, will scale production using thorium feedstock from SMM, which boasts one of the highest-grade rare earth and thorium deposits globally. We are proud to contribute to precision oncology and meet the accelerating demand. This reinforces its role in the radiopharmaceutical industry with an eco-friendly, reactor-free process.” The partnership with Thor Medical was formalised through a 2024 Memorandum of Understanding.
The mine’s Radium-228, a targeted alpha therapy enabler, further strengthens its medical impact, targeting resistant tumors with minimal collateral damage. Thorium-232 generates Radium-228, a daughter product of the decay chain,” Soden explained.
Enock Mathebula, Executive Chairman of SMM, said the mine is fully funded for reclamation and refurbishment to produce monazite concentrate, cerium- and lanthanum-depleted mixed rare earth carbonate (CLDMREC) and thorium, from which the Radium-228 is harvested.
“With off-take agreements secured for a quarter of our concentrate and the balance of production feeding hydro-metallurgical processes to produce the CLDMREC, for which SMM also has off-take agreements, SMM aims to supply rare earths to global markets and will also supply significant quantities of thorium for alternative nuclear energy technology.
“The thorium-based fuel will be an attractive option both for light water reactor operators and nuclear energy policy makers. These milestones accelerate our path to production and enhance credibility with investors,” he added.
“Our high-grade rare earths production positions SMM as an important source of rare earths for green technologies including electric vehicles, wind turbines, defense systems and most electronic devices, and our thorium will provide a source for global medical and energy applications,” Soden concluded.
