Australian rare earth miner Sunrise Energy Metals surged as much as 29% after securing a $400 million conditional loan commitment from the U.S. Department of War, part of a nearly $1 billion
The U.S. Department of War's Office of Strategic Capital (OSC) announced the long-term debt financing to support the development of the world's first primary scandium mine at Sunrise's Syerston Project in New South Wales. The Trump administration's backing is part of a push to challenge China's dominance in critical minerals, with scandium being vital for defense, aerospace, and AI data centers. Shares of Sunrise Energy Metals were last seen trading 16% higher on Monday after paring gains.
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