Sunrise Energy Metals has approved a final investment decision (FID) for its Syerston Scandium Project in central-west New South Wales, paving the way for development of what the company describes as the world’s first major primary scandium mine.
The decision clears the project to move into construction, with early works underway and first commercial production targeted for the second half of 2028.
The project is designed to produce up to 60 tonnes per annum of high-purity scandium oxide, supporting demand from emerging technology markets, including solid oxide fuel cells, aerospace and defence, and advanced semiconductor applications.
Sunrise said the development would establish a new source of primary scandium supply outside China, following export controls imposed by the country in 2025 that have significantly restricted supply to key Western markets.
The initial development is expected to process 64,000 tonnes of ore annually, producing scandium oxide with a purity exceeding 99.9 per cent. The operation is underpinned by an average ore grade of 690 parts per million scandium during its first decade of production and an estimated 32-year mine life.
Mining will use conventional open pit methods, with excavators and trucks supplying ore to a processing plant that will use hydrometallurgical leaching to extract scandium before refining it into high-purity oxide.
Sunrise chairman Robert Friedland said the investment decision followed extensive technical development, engineering, permitting and commercial engagement.
“Scandium has long been recognised for its exceptional properties and potential across a range of advanced technologies, but its adoption has been constrained by the absence of reliable, scalable supply,” he said.
“Syerston has the potential to fundamentally change that dynamic by delivering a secure, long-term and primary source of high-purity scandium to global markets.”
The FID is supported by a conditional commitment of up to US$400 million in long-term debt financing from the US Department of War’s Office of Strategic Capital. Sunrise also reported $148.1 million in available cash at September 30.
Alongside the initial development, the company is advancing expansion studies to assess opportunities to increase scandium oxide production capacity. Any expansion will depend on customer commitments, demand growth, engineering outcomes and financing arrangements.
Sunrise is also progressing a proposed redomiciliation to the US and Nasdaq listing, with a scheme booklet expected to be distributed to shareholders shortly.
The company said the proposed transaction was aligned with its strategy to access US capital markets and support the project’s long-term financing requirements.
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