US Invests $400M in Australian Scandium Project to Counter China
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The U.S. Department of Defense is investing $400 million in Australia's Syerston scandium project, aiming to reduce dependence on Chinese-controlled critical mineral supplies. The project, led by Sunrise Energy Metals, is set to produce 60 tonnes of scandium annually, nearly matching the current global output. Scandium is crucial for strengthening aluminum alloys used in aerospace, defense, and 5G/6G technology. Lockheed Martin has already secured 25% of the mine's output for its first five years.
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