Scandium International Mining Announces Grant of New Mining Lease at Nyngan Scandium Project

Core Viewpoint - Scandium International Mining Corp. has received a mining license for its Nyngan Scandium Project in New South Wales, marking a significant milestone after a nine-year application process [1][2][3] Group 1: Project Development - The grant of Mining Lease No 1893 provides regulatory certainty for advancing strategic partnerships, offtake contracts, and financing for the project [2] - The mining lease is valid for an initial term of 21 years until October 2046, allowing the operator to apply for renewal [5] - The Nyngan Scandium Project is designed as a small surface mining operation, with an annual recovery of approximately 75,000 tons of limonite ore [7] Group 2: Market Context - There is a growing demand for scandium, classified as a critical mineral by several governments, and the project aims to supply this demand outside of China and Russia [4][6] - The project is positioned to become the world's first primary scandium-mining project, enhancing New South Wales' potential as a leader in sustainable mining of critical minerals [6][8] Group 3: Technical Aspects - The average limonite scandium head grade is 409 ppm, with a projected output of approximately 38,500 kg of scandium oxide per year, grading 98 to 99.9% Sc2O3 [7] - The project development includes a one-year construction period followed by a 24-month ramp-up to reach full capacity [7]