The Pentagon has pledged a $400 million loan (approximately €346 million) to the Australian company Sunrise Energy Metals. This funding is intended to enable the construction of a scandium mine in Fifield, New South Wales.
The Syerston project could become the world's first mine dedicated primarily to extracting this rare earth element directly from its source rock. Scandium is usually recovered as a byproduct of other mining operations.
Washington wants to reduce its dependence on China
Used in the military, aerospace, and data center industries, scandium is considered a strategic metal. China currently dominates its production and refining, as it does for a large portion of the global rare earth market.
Following China's restrictions on certain exports in 2025, the United States accelerated its search for new suppliers. Washington and Canberra signed an agreement in October outlining $1 billion in investments from each country in strategic mining projects. The Syerston mine is slated to become a key component of the Western world's scandium supply.
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