Friedland-backed scandium miner enters supply deal with Lockheed Martin
A drill site at the Sunrise cobalt-nickel-scandium project in Australia, 350 km west of Sydney. Credit: Clean TeQ HoldingsRobert Friedland-backed Sunrise Energy Metals (ASX: SRL) could become a long-term supplier of scandium for Lockheed Martin under the recently signed Australia-US critical minerals pact, the company announced late on Thursday.
In a press release, the Melbourne-headquartered Sunrise said it has entered a partnership agreement with Lockheed Martin that grants the defense and aerospace manufacturer an option to buy up to a quarter of the annual scandium production from its Syerston project.
The mineral is vital for semiconductors that power mobile communications, aerospace and automotive applications. The US accounts for about 90% of overall demand, but rival China controls most of the supply, making the mineral easily exposed to supply chain disruptions.
The partnership would cover the first 15 tonnes per annum of scandium oxide produced at Syerston over an initial five-year term, Sunrise said in its press release, noting that this would represent about 25% of the project’s annual production capacity.
“We are pleased to be working with Lockheed Martin on this important initiative, one which underscores the importance of the US-Australia critical minerals pact, signed by President Trump and Prime Minister Albanese at the White House only a few days ago,” said Friedland, who serves as co-chair of the company.
“It is encouraging to see new applications emerging for scandium in both civilian and defense markets. While global scandium trade is still small, latent demand is potentially enormous, provided customers have clear line of sight to supply options that are diversified, low-cost and scalable,” added Sam Riggall, Sunrise’s managing director.
Robert Friedland-backed Sunrise Energy Metals (ASX: SRL) could become a long-term supplier of scandium for Lockheed Martin under the recently signed Australia-US critical minerals pact, the company announced late on Thursday.
In a press release, the Melbourne-headquartered Sunrise said it has entered a partnership agreement with Lockheed Martin that grants the defense and aerospace manufacturer an option to buy up to a quarter of the annual scandium production from its Syerston project.
The mineral is vital for semiconductors that power mobile communications, aerospace and automotive applications. The US accounts for about 90% of overall demand, but rival China controls most of the supply, making the mineral easily exposed to supply chain disruptions.
The partnership would cover the first 15 tonnes per annum of scandium oxide produced at Syerston over an initial five-year term, Sunrise said in its press release, noting that this would represent about 25% of the project’s annual production capacity.
“We are pleased to be working with Lockheed Martin on this important initiative, one which underscores the importance of the US-Australia critical minerals pact, signed by President Trump and Prime Minister Albanese at the White House only a few days ago,” said Friedland, who serves as co-chair of the company.
“It is encouraging to see new applications emerging for scandium in both civilian and defense markets. While global scandium trade is still small, latent demand is potentially enormous, provided customers have clear line of sight to supply options that are diversified, low-cost and scalable,” added Sam Riggall, Sunrise’s managing director.
High-grade scandium deposit
The company hails its Syerston project, located about 450 km west of Sydney in New South Wales, as one of the world’s largest and highest-grade deposits of scandium. A resource update released last month showed it has nearly 46 million measured and indicated tonnes grading 414 parts per million scandium.
Following the resource disclosure, the Australian miner received a letter of interest from the Export-Import Bank of the United States for a debt financing of up to $67 million to support the project’s development.
“This letter of interest underscores the importance of scandium to the United States, both as a critical component in wireless communications technologies, and advanced alloys supporting the civilian and defence sectors,” Friedland stated in a September 16 news release.
The company hails its Syerston project, located about 450 km west of Sydney in New South Wales, as one of the world’s largest and highest-grade deposits of scandium. A resource update released last month showed it has nearly 46 million measured and indicated tonnes grading 414 parts per million scandium.
Following the resource disclosure, the Australian miner received a letter of interest from the Export-Import Bank of the United States for a debt financing of up to $67 million to support the project’s development.
“This letter of interest underscores the importance of scandium to the United States, both as a critical component in wireless communications technologies, and advanced alloys supporting the civilian and defence sectors,” Friedland stated in a September 16 news release.
Lockheed Martin Secures Option for 25% of Sunrise Scandium Output in Australia
Lockheed Martin Corporation (NYSE:LMT) has signed an agreement with Sunrise Energy Metals Limited (ASX:SRL, OTC:SREMF) to secure up to 25% of scandium oxide production from the Syerston Scandium Project in New South Wales, marking a key step in establishing an Australia-U.S. scandium supply chain for advanced manufacturing and defense applications.
The deal grants Lockheed an option to purchase 15 tonnes of scandium oxide annually—about 25% of the Syerston Project’s expected output—during its first five years of operation. The companies will collaborate on testing and qualification programs to accelerate scandium integration into Lockheed Martin’s product platforms.
The partnership follows the recently signed U.S.–Australia Critical Minerals Pact, underscoring growing efforts to secure Western supply chains for strategic materials used in aerospace, defense, and clean energy technologies. Scandium, valued for its ability to strengthen aluminum alloys while reducing weight, is increasingly sought after for applications in aircraft, spacecraft, and next-generation energy systems.
Sunrise Energy Metals, co-chaired by mining financier Robert Friedland, is developing what it describes as the world’s first high-grade, scalable scandium source at its Syerston project. In addition to scandium, Sunrise holds one of the largest nickel-cobalt laterite deposits globally—resources critical for EV batteries and energy storage systems.
Lockheed Martin, the world’s largest defense contractor, is positioning to secure stable supplies of key inputs as geopolitical competition and industrial policy reshape global sourcing strategies. By aligning with an Australian partner, the company also supports allied diversification away from Chinese and Russian mineral dominance.
Both firms said the agreement could expand to include future offtake and production increases as demand for scandium grows. Friedland called the collaboration “an important initiative” that reflects “a new geopolitical reality” of closer industrial ties between allied nations.
By Charles Kennedy for Oilprice.com
Lockheed Martin Corporation (NYSE:LMT) has signed an agreement with Sunrise Energy Metals Limited (ASX:SRL, OTC:SREMF) to secure up to 25% of scandium oxide production from the Syerston Scandium Project in New South Wales, marking a key step in establishing an Australia-U.S. scandium supply chain for advanced manufacturing and defense applications.
The deal grants Lockheed an option to purchase 15 tonnes of scandium oxide annually—about 25% of the Syerston Project’s expected output—during its first five years of operation. The companies will collaborate on testing and qualification programs to accelerate scandium integration into Lockheed Martin’s product platforms.
The partnership follows the recently signed U.S.–Australia Critical Minerals Pact, underscoring growing efforts to secure Western supply chains for strategic materials used in aerospace, defense, and clean energy technologies. Scandium, valued for its ability to strengthen aluminum alloys while reducing weight, is increasingly sought after for applications in aircraft, spacecraft, and next-generation energy systems.
Sunrise Energy Metals, co-chaired by mining financier Robert Friedland, is developing what it describes as the world’s first high-grade, scalable scandium source at its Syerston project. In addition to scandium, Sunrise holds one of the largest nickel-cobalt laterite deposits globally—resources critical for EV batteries and energy storage systems.
Lockheed Martin, the world’s largest defense contractor, is positioning to secure stable supplies of key inputs as geopolitical competition and industrial policy reshape global sourcing strategies. By aligning with an Australian partner, the company also supports allied diversification away from Chinese and Russian mineral dominance.
Both firms said the agreement could expand to include future offtake and production increases as demand for scandium grows. Friedland called the collaboration “an important initiative” that reflects “a new geopolitical reality” of closer industrial ties between allied nations.
By Charles Kennedy for Oilprice.com
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