Sunrise Energy Metals received a conditional commitment of up to $400 million in long-term debt financing from the U.S. Department of War’s Office of Strategic Capital. The financing will support the development of Sunrise’s wholly owned Syerston Scandium Project (Syerston) in New South Wales, Australia.
Syerston is being developed as a large-scale, long-life source of primary scandium, with an initial design capacity of approximately 60 tonnes per annum of high-purity scandium oxide.
Subject to financial close, the proposed facility would have a 25-year term and will be funded in phases in line with eligible project expenditures, agreed development milestones and construction requirements.
The S&C team advising Sunrise consists of Chris Beatty, Ben Fleming and Karina Poon.