THORIUM AS AN ENERGY SOURCE - Opportunities for Norway ...

US $ / kg UF 6
160
140
120
100
80
60
40
20
0
1987
1988
1989
1990
1991
1992
1993
2.7 Thorium Resources
Uranium Spot Price
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
Conversion Price SWU Price U3O8 Price
Figure 2.12: The World Uranium Spot Price History.
(Source: The Ux Consulting Company, LLC)
160
140
120
100
80
60
40
20
0
US $ / kg SWU
US $ / ibs U 3O 8
Introduction
The primary source of the world’s thorium is the rare-earth and thorium phosphate mineral,
monazite. In the United States, thorium has been a byproduct of refining monazite for its rareearth
content. Monazite itself is recovered as a byproduct of processing heavy-mineral sands for
titanium and zirconium minerals. Without demand for the rare earths, monazite would probably
not be recovered for its thorium content. Other ore minerals with higher thorium contents, such
as thorite, would be more likely sources.
Thorium deposits are found in several countries around the world as shown in Figure 2.13 [8].
The largest thorium reserves are expected to be found in Australia, India, USA, Norway, Canada,
and in countries such as South Africa and Brazil. According to the US Geological Survey, the
world thorium reserves and reserve base (resources) are shown in Figure 2.14.
According to Figure 2.14, Norway is known to have among the largest thorium reserves in the
world, about 170 000 tonnes and about 150 000 tonnes as reserve base (resource). A resource
refers to a situation where metals or minerals are enriched. The resources can be developed to a
reserve (or deposit) when further investigations prove that the enrichment can be economically
exploitable. This also implies that the metal or the mineral can be recovered using a viable
process.
19