Sunrise Energy Metals’ scandium project gets $400M conditional loan from US Department of War
The company is backed by Robert Friedland, who said the Syerston project “will be the world’s first source of primary mine supply for scandium end-users”.
The U.S. Department of War's Office of Strategic Capital recently announced a $400 million conditional loan to Sunrise Energy Metals to develop its scandium project in New South Wales, Australia. Sunrise Energy Metals, backed by mining billionaire Robert Friedland, aims to become the world's first primary source of scandium supply.
Scandium, currently sourced through byproducts, holds significant importance in critical defense and commercial applications. The department will have the right of first offer on Sunrise's output, ensuring Western alignment from mine to finished product. This nearly $1 billion deal, combining public and private capital, aims to address foreign dependencies in scandium supply and bolster U.S. companies' access to this crucial mineral.
Despite claims of a China-free scandium supply chain, the private sector is still testing this claim. Bloom Energy, the West's largest consumer of scandium oxide, uses an estimated 30 tonnes in 2025, with allegations of Chinese scandium oxide reaching its facilities through various countries.
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