US Invests $400 Million in Australian Scandium Mine

Aug 8, 2026

55 min

Aug 8, 2026 08:30

US to invest $400m in Australian rare earth mine

## US Investment in Australian Scandium

The United States has committed $400 million to develop a scandium mine in Australia, aiming to reduce reliance on China for this critical mineral. The investment, announced by the Pentagon, will support the construction of the world's first primary scandium mine by Sunrise Energy Metals in Fifield, New South Wales.

## Strategic Importance

Scandium is essential for defense, aerospace, and data centers, and is typically obtained as a byproduct of other mining activities. The new mine in Australia is expected to become a key supplier for Western countries, as China currently dominates the scandium market.

## US-Australia Collaboration

The announcement follows a critical minerals agreement signed by US President Donald Trump and Australian Prime Minister Anthony Albanese in October. Both nations pledged to invest $1 billion each in projects to counter China's influence in the critical minerals sector.

## Future Prospects

Sunrise Energy Metals has also secured a deal with Lockheed Martin to supply 25% of its scandium output for the first five years. The company plans to make further announcements to the Australian Securities Exchange soon.

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