U.S. Department of Defense Commits $400 Million to Australian Scandium Mine
The U.S. Department of Defense has announced a $400 million conditional loan to Sunrise Energy Metals for the development of a primary scandium mine in New South Wales, Australia. This project aims to establish a Western-aligned supply chain for scandium, a critical rare earth element used in aerospace and defense technologies. The initiative is part of a broader $3 billion investment by the U.S. to enhance domestic production of critical minerals and reduce reliance on China, which currently dominates the scandium market. 
