US War Dept Invests $400M in Australia's Scandium Mine, Aiming to Reduce Overseas Dependence

Published: Aug 14, 2026 15:57

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[SMM Rare Earth News] The US War Department’s Strategic Investment Office announced that it would provide a $400 million conditional loan to Australia’s Sunrise Energy Metals to support construction of the Syerston Scandium Mine Project in New South Wales. The project plans to produce 60 mt of scandium annually and will build supporting metal processing and manufacturing capabilities to create a complete supply chain. Once completed, the project is expected to become the world’s first primary scandium mine, reducing US dependence on overseas scandium supply.

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