US backs Australian scandium mine with $500m loan

A small mining town in Fyrefield has secured a conditional US$500 million Pentagon loan commitment to build the world's first primary scandium mine. The rare earth mineral, currently dominated by Chinese supply, is critical for defence, aerospace and automotive applications. The project with Sunrise Energy Metals could create 400 full-time jobs over a 32-year mine life.See omnystudio.com/listener for privacy information.