West Cobar Metals accelerates scandium development at Salazar project

West Cobar Metals is accelerating development at its Salazar critical minerals project in Western Australia, focusing on scandium extraction. The company is preparing for aircore drilling targeted for Q4 2026 to test higher-grade zones within the Newmont deposit. This move follows positive bioleaching testwork that achieved scandium extraction of up to 39% under atmospheric conditions.

The strategic focus on scandium is driven by increasing international demand for secure supply chains in defense, aerospace, and semiconductor technologies, particularly amid tightening Chinese export controls. The company noted that a recent US government conditional debt funding of US$400 million to Sunrise Energy Metals highlights the strategic priority of the mineral.

On the broader Australian market, Westpac shares fell following reports of weaker economic conditions and a 20% decline in mortgage applications. Meanwhile, Sunrise Energy Metals has seen significant share price growth amid optimism regarding potential collaboration with the US government. Investors are also closely watching the upcoming Reserve Bank of Australia meeting, where a pause in interest rates is widely expected.