The United States government announced on August 7, 2026 a conditional loan of 400 million dollars to Australian company Sunrise Energy Metals for the Syerston Scandium Project in New South Wales, described as the world’s first primary scandium mine. The investment, framed as a national security priority, aims to reduce American dependence on Chinese-controlled scandium supplies, a critical metal used in scandium-aluminum alloys for fighter jets and spacecraft. Defense giant Lockheed Martin has signed a non-binding offtake agreement for up to 75 tonnes of scandium oxide over five years. This financing is part of a broader two billion dollar critical minerals push, with the loan conditional upon Sunrise Energy Metals meeting specific milestones.
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