Politics

Pentagon lends $400 million for scandium mine in Australia

Washington has provided a loan to support the operation of a scandium mine, a strategic metal for U.S. supply.

8 August 2026Tagblick Newsdesk

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Archive photo: Pentagon lends $400 million for scandium mine in Australia — Archive photoPhoto: Umop503 · Wikimedia Commons · CC0

The Pentagon has announced a loan of $400 million to Sunrise Energy Metals for the development of a scandium mine in Australia. This decision was revealed by the local company during a statement made on Saturday.

The funding aims to strengthen the supply of strategic resources for the United States, as scandium is considered essential for various industrial applications.

With this initiative, the United States seeks to diversify its sources of rare earth supply and reduce its dependence on other countries.

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