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August 10, 2026
U.S. Department of War Issues Conditional Loan of $400 Million to Sunrise Energy Metals
- The U.S. Department of War has committed a conditional loan of $400 million to Sunrise Energy Metals for developing a primary scandium mine in New South Wales.
- This project aims to produce 60 tonnes of high-purity scandium annually by 2028, potentially meeting current global demand.
- The loan is contingent on milestones, including the construction of a scandium refining facility in the U.S. to produce military-grade compounds.
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2 Sources
- Australian rare earth miner surges as much as 29% after U.S. Department of War investmentAug 10, 2026 at 7:03 AM · CNBC
- The US is set to invest $400 million into a tiny Australian town. Here’s whyAug 10, 2026 at 7:48 AM · Independent