U.S. EXIM Bank expresses interest in financial support for Syerston Scandium Project

Core Insights - Sunrise Energy Metals Limited has received a Letter of Interest from the Export-Import Bank of the United States for potential debt financing of up to US$67 million for the Syerston Scandium Project [2][8] - The Syerston Scandium Project is noted for containing the world's largest and highest-grade scandium deposit, which is crucial for supporting reliable supply chains for US industries [3][5] - The financing from EXIM is part of initiatives aimed at enhancing supply chain resiliency and is eligible for a repayment term of up to 15 years [3][4] Company Developments - The company is encouraged by EXIM's support, which is expected to strengthen customer engagement and secure off-take arrangements as the project moves towards a final investment decision [5][8] - A feasibility study is currently in progress, with completion anticipated in mid- to late-October 2025, to incorporate new metal inventories and optimize the mine plan [6][8] - The financing amount represents approximately half of the estimated development cost for the Syerston Scandium Project, highlighting its strategic importance following China's export controls on rare earth metals [8]