Skip to main content
Grafa
Mining
Sunrise Energy Metals secures US$400M for scandium project
Image for illustrative purposes only. Not a real photo.

Sunrise Energy Metals secures US$400M for scandium project

Share
  • Sunrise Energy Metals secured a conditional commitment of up to US$400 million from the U.S. Office of Strategic Capital.
  • Following the announcement, the Sunrise Energy Metals share price was up at $18.88.
  • The funding aims to support the development of the Sunrise Scandium Project and secure a long-term scandium supply.

Sunrise Energy Metals (ASX:SRL) secured a conditional debt financing commitment of up to US$400 million from the U.S. Department of War's Office of Strategic Capital.

The proposed 25-year debt facility is intended to support the development of the company's 100%-owned Sunrise Scandium Project located in New South Wales, Australia.

The conditional commitment has the potential to significantly reduce development and funding risk for the project.

The funding arrangement is aligned with the increasing importance of securing scandium supplies for defence, advanced manufacturing, artificial intelligence infrastructure, and wireless spectrum technologies.

Alongside the debt facility, the company has commenced preparations to pursue a listing on a U.S. securities exchange.

Following the announcement, the Sunrise Energy Metals share price was up at $18.88.

The business continues to develop the Sunrise Battery Materials Complex using its Clean-iX resin technology for the extraction and purification of critical metals.

Management maintains a focus on advancing its mineral tenements and expanding its operational footprint within the global critical minerals sector.

Frequently asked questions