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The Economic Times

Global Business / The Economic Times

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Pentagon to invest $400 million in Australian rare earth mine scandium

A remote Australian town will become a cornerstone of Western scandium supply. The United States Pentagon has pledged a $400 million loan commitment for this project. This initiative aims to establish the world's first primary scandium mine. China currently dominates global supply and processing of this critical mineral. The project ensures Western alignment from mine to finished product.

8 Aug 2026 1:38 pm