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Sunrise Energy Metals seeks US listing after $400M conditional aid
The planned U.S. listing follows a conditional commitment of up to $400 million for its Syerston scandium project, which is not yet under construction.
Sunrise Energy Metals said it intends to pursue a listing on a U.S. securities exchange after the U.S. Department of War’s Office of Strategic Capital confirmed a conditional commitment of up to $400 million in financing for the company’s 100%-owned Syerston scandium project in New South Wales, Australia, Mining.com reported.
The company framed scandium as a key input for defense, advanced manufacturing, artificial intelligence infrastructure, and wireless spectrum technologies, adding that the United States has not actively mined scandium in decades and the market is heavily dependent on China, according to the report.
Sunrise said Syerston hosts one of the largest and highest-grade mineable scandium deposits within a Five Eyes jurisdiction and is being advanced as a scalable, long-life, low-cost source of primary scandium outside China.
The company said the Syerston project is designed to produce 60 tonnes annually but has yet to begin construction, and it cited a U.S. Geological Survey estimate that global scandium production totaled about 80 tonnes in 2025, the outlet added.