(Alliance News) - Thor Energy PLC on Wednesday celebrated after the South Australian government approved the first stage of in-groundwork at Kapunda, the firm's in-situ recovery project.
According to the London-based uranium and vanadium explorer, the approval was submitted by EnviroCopper Ltd, in which Thor has a 30% shareholding.
The phase in question is a site environmental lixiviant test. Operating as a push-pull trial, a biodegradable solution - or lixiviant - will be mixed with groundwater for placement within the copper orebody. The lixiviant will reside in-situ for a period while being sampled and monitored, before being extracted, leaving the site to be rehabilitated.
The trial is due to start in late September.
"Thor is pleased that the government of South Australia awarded a key environmental approval to advance the Kapunda copper ISR project," said Managing Director Nicole Galloway Warland.
"We believe that the work by ECL will complement our longer-term focus on the green energy transition. The recent addition of copper to the critical minerals list by the government of South Australia reiterates the importance of copper in driving the global transition towards cleaner and more sustainable energy."
Thor Energy shares closed 2.8% higher at 1.85 pence each in London on Thursday.
By Holly Beveridge, Alliance News reporter
Comments and questions to newsroom@alliancenews.com
Copyright 2023 Alliance News Ltd. All Rights Reserved.
Thor Energy (THR)