Business
Idaho Strategic Resources and CCTE Team Up to Build America's Thorium Future
COEUR D'ALENE, IDAHO / ACCESS Newswire / May 13, 2025 / Idaho Strategic Resources, Inc. (NYSE American:IDR) ("IDR" or the "Company") is pleased to announce that
About this update from Idaho Strategic Resources, Inc.
[{"type":"text","content":" COEUR D'ALENE, IDAHO / ACCESS Newswire / May 13, 2025 / Idaho Strategic Resources, Inc. (NYSE American:IDR) (\"IDR\" or the \"Company\") is pleased to announce that the Company has signed a Memorandum of Understanding (\"MOU\") with Clean Core Thorium Energy, Inc. (\"CCTE\") to evaluate the feasibility of thorium mining, processing, and other relevant supply chain steps for CCTE's ANEEL fuel - an advanced nuclear fuel comprised of thorium and high assay low-enriched uranium (\"HALEU\") for use in pressurized heavy water reactors (\"PHWRs\"). Idaho Strategic and CCTE believe this MOU to be very complimentary to both companies' business plans and allow each to leverage their respective expertise to advance a \"Made in America\" supply-chain for thorium-based ANEEL fuel. The two companies share the belief that nuclear power is the logical choice to provide 100% carbon-free baseload power, and that CCTE's thorium-based ANEEL fuel raises the bar even higher given the inherent benefits of thorium as a nuclear fuel source. Founded in 2017, CCTE is led by a father-son team based near Chicago, IL. CCTE's ANEEL fuel is a patented design of thorium-enriched uranium that can \"plug-and-play\" in exisiting reactors resulting in increased burn-up, reduced waste and cost, and better safety and proliferation resistance. CCTE has taken a novel approach to advanced nuclear innovation by focusing on improving the nuclear fuel itself, rather than taking the approach to redesign the entirety of the nuclear reactor. Notable benefits of this approach include streamlined regulatory approvals, nearer-term revenue generation, and a more favorable potential return on investment. Recent partnerships and milestones include US DOE & Idaho National Lab irradiation testing of ANEEL fuel, Canadian Nuclear Laboratories cost share agreement, India's National Thermal Power Corporation strategic partnership, and more. Idaho Strategic's President and CEO, John Swallow commented, \"I am looking forward to working with Milan and Mehul at CCTE to help rebuild thorium's place in the US' nuclear energy conversation at a time when our country is reembracing nuclear fuel as our preferred source of carbon-free energy. I feel strongly that thorium will play an expanded role in this industry moving forward which positions both CCTE's ANEEL fuel, and Idaho Strategic's Lem...