Denmark-based advanced reactor developer Copenhagen Atomics has signed a letter of intent with Rare Earths Norway to secure future access to thorium extracted from the Fensfeltet deposit in Norway.

The company said the agreement represents “a strategic step “in establishing a long-term, European supply chain for thorium, the key fertile material in Copenhagen Atomics’ molten salt reactor technology.

The letter of intent outlines plans to collaborate on the use of thorium resources associated with Rare Earths Norway’s planned rare earth element production.

Thorium occurs naturally in the Fensfeltet deposit and has historically been treated as a byproduct. Through this partnership, the material may instead become a valuable energy resource.