Exploration and development venture Metals One [LON:MET1] is moving to commercialise its US uranium interests through an agreement with DISA Technologies to treat historic mine waste in Colorado.
The AIM-quoted group, which earlier this month acquired a 75 per cent stake in Standard Minerals Inc, said Standard had signed a term sheet with privately held DISA to evaluate and potentially recover saleable uranium and other critical minerals from abandoned mine dumps at its Radium Mountain and Wedding Bell projects.
Both sites lie within the uranium-rich Uravan Mineral Belt, a region of western Colorado once central to US nuclear supply.
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How does uranium recovery work?
Under the proposed arrangement, DISA will deploy its patented high-pressure slurry ablation (HPSA) technology using modular mobile plants to process surface dumps of partially mined and aggregated material. The system is designed to recover uranium and associated critical minerals while also reducing environmental risks by removing up to 90 per cent of uranium and radium-226 content.
Metals One said it would incur no capital or operating costs under the deal, instead receiving a gross revenue share from the sale of recovered concentrates. Standard is entitled to a base rate of 2.5 per cent of gross sales, rising to as much as 4 per cent depending on commodity prices. DISA will act as operator, covering permitting, evaluation, treatment and remediation.
Thirteen prospective waste dumps at the Colorado projects have already been surveyed, though management noted that further sites could be added to the inventory. The next phase will include assay testing and gamma probe characterisation to estimate the quantity of recoverable minerals. A more detailed binding agreement between the companies is expected to follow.
Major milestone for Metals One
Craig Moulton, chair of Metals One, said the deal created “a pathway for Metals One to potentially generate revenue from our US uranium portfolio”. He added that DISA’s near-completed licensing process with the Nuclear Regulatory Commission would make it the first company to secure a Service Providers Licence for remediating uranium waste — a milestone that would offer a “robust regulatory framework” for scaling the technology.
DISA has been working with US regulators since 2021 and has also partnered with the Environmental Protection Agency to demonstrate the environmental benefits of its approach. A treatability study with the EPA showed significant reductions in radioactive content, pointing to improved watershed quality in affected areas.
The initiative comes amid strong political momentum in Washington DC to rebuild domestic uranium supply chains and reduce reliance on foreign producers. A recent Department of the Interior order directed agencies to accelerate recovery of critical minerals from legacy mine waste, explicitly linking the effort to national security and clean energy objectives.
Portfolio of strategic projects
For Metals One, the Colorado agreement marks a step beyond exploration and into potential cash flow, while strengthening its foothold in the US uranium sector. The company has been assembling a portfolio of projects with strategic metals exposure, positioning itself for long-term growth in supply-constrained markets.
Moulton said Metals One would also explore broader applications of the HPSA technology across its holdings. “The process not only recovers valuable uranium and critical minerals but also leaves the environment significantly improved by remediating historic legacy sites,” he said.
If successful, the venture could provide Metals One with a rare combination in the junior mining space: near-term revenues, regulatory support and alignment with US policy priorities on both energy security and environmental rehabilitation.
