Syerston project in New South Wales. The Department of War’s Office of Strategic Capital (OSC) announced Friday a $400 million conditional loan commitment to Sunrise Energy Metals (ASX: SRL) to build out the company’s scandium operations in New South Wales, Australia. No primary mine-source scandium supply exists globally, and foreign competitors dominate the supply side, accounting for approximately 80% of global mining production and nearly 100% of scandium processing. With these funds, alongside private capital, Sunrise said it will develop a full scandium value chain, beginning with its primary mining operations at Syerston. Meanwhile, Sunrise Energy Metals’ Syerston project in New South Wales, designed to produce 60 tonnes annually and one of several proposed non-Chinese sources, has yet to begin construction.