Pentagon allocates $400M for Australian scandium mine

The U.S. Department of Defense (Pentagon) intends to invest $400 million to develop the world's first major scandium mine in Australia, aiming to secure a steady supply of this vital metal for defense, aerospace, and data center applications, especially as China plans to impose export restrictions starting in 2025. The proposed mine will be located in Fiviel, New South Wales, one of the regions with the largest global reserves of scandium. This investment seeks to reduce reliance on China, which dominates the scandium market, by establishing local alternative supplies. It is part of a joint U.S.-Australia investment effort, each contributing $1 billion, to strengthen the security of strategic raw materials.

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