Australian Scandium Miner Soars After $400M US Investment
AI Summary
Australian scandium miner Sunrise Energy Metals secured a $400 million long-term debt financing from the Pentagon to expand scandium production, critical for aerospace and defense. This investment aligns with efforts to diversify rare earth element supply chains away from China.
Sunrise Energy Metals has secured $400 million in long-term debt financing from the Pentagon to expand production of scandium, a rare earth element vital to aerospace and defense. The deal underscores Washington's push to diversify supply chains away from China. Sunrise Energy Metals CEO Sam Riggall joins "Bloomberg: The Asia Trade" to discuss what this means for their business. (Source: Bloomberg)
Security Markets Deals Commodities Energy Sunrise Energy Metals scandium rare earth elements Pentagon investment aerospace defense supply chain