[REVISION HISTORY]

US drive for domestic scandium supply

Updated 4 times since CLSTR started tracking revisions of this situation.

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2026-08-10 17:12 UTC → 2026-08-10 19:22 UTC · added ~~removed~~

In early August 2026, Lockheed Martin began negotiating with U.S. and Canadian firms to secure scandium and germanium for defense applications, a move driven by President Donald Trump's executive order aimed at cutting reliance on Chinese critical minerals. The company reached a preliminary agreement with NioCorp to obtain about 15 metric tons of scandium annually, enough to cover roughly a quarter of global demand, with production slated to start at NioCorp’s Nebraska mine in 2028. A few days later, the U.S. Department of Defense announced a more than $560 million loan to Australia's Sunrise Energy Metals for the Syerston Scandium Project. The funding, tied to a critical-minerals agreement between President Trump and Australian Prime Minister Anthony Albanese, is intended to expand scandium output and create a U.S.-aligned supply chain from mine to finished metal. Sunrise already secured a contract with Lockheed Martin for up to 15 tonnes of scandium oxide over five years. On August 10, Sunrise Energy Metals confirmed it had secured a conditional commitment for up to $400 million in debt financing from the U.S. Department of Defense's Office of Strategic Capital (OSC). This 25-year debt facility is intended to fund the development of the Syerston project in New South Wales, which is positioned to become the world's first primary scandium mine. Following the announcement, Sunrise Energy Metals' shares rose by as much as 29% on the Australian Securities Exchange. The company is also preparing for a potential listing on a U.S. securities exchange to access broader capital markets. Later on August 10, the U.S. government expanded its critical mineral strategy, committing over $2 billion to bolster domestic and allied supply chains.

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