Sunrise Energy Metals expects to supply U.S. critical minerals stockpile

Sunrise Energy Metals' CEO told Reuters the company's Syerston scandium project is expected to be part of the U.S. critical minerals stockpile, and the mine aims to start producing about 60 tonnes a year of scandium oxide in the first half of 2028.

Sunrise Energy Metals said its Syerston scandium project is positioned to contribute to a new U.S. strategic stockpile of critical minerals. U.S. officials announced a $12 billion stockpile plan, backed by $10 billion from the U.S. Export-Import Bank and $2 billion of private capital. Company executives attended White House meetings about securing Western mineral supply chains. Key details: - The article mentions Sunrise Energy Metals (ASX: SRL) and that co-chair Richard Friedland attended an Oval Office meeting with other industry figures. - U.S. President Donald Trump announced a plan for a $12 billion critical minerals stockpile, with $10 billion from the U.S. Export-Import Bank and $2 billion from private capital. - CEO Sam Riggall told Reuters the company expects to be part of that stockpile and said EXIM backing has bolstered investor confidence. - Sunrise has secured funding to begin early works and in September received a letter of interest from the U.S. EXIM bank for $67 million. - The Syerston mine in New South Wales is planned to have an initial capacity of about 60 tonnes a year of scandium oxide and is set to start production in the first half of 2028; expansion studies are underway. - The article reports scandium is used to harden aluminium for aerospace, defence and automotive sectors, and that other jurisdictions already hold or plan reserves. Summary: The company said it expects to be included in the U.S. stockpile but formal inclusion has not been finalised. The Syerston project aims to begin production in the first half of 2028 and is carrying out expansion studies. Undetermined at this time.