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Sunrise Energy Metals Limited (ASX:SRL)

ALERT: Price-sensitive ASX Announcement for SRL
Current share price for SRL : $16.350 1.31 (8.71%)+
Announcement
Release
23 Jul 2026 10:32AM
Price at Release
$15.040
Full Release
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Summary
Sunrise Energy Metals Limited is accelerating its expansion study for the Syerston Scandium Project in Australia, aiming to increase its scandium oxide production capacity to 180 tonnes per annum. This expansion seeks to address the projected growth in global scandium demand and reduce dependency on Chinese supply sources. The company is concurrently advancing a 60 tonnes per annum development with production expected by 2028, while exploring optimal pathways for capital efficiency and operational cost management. Strategic investments in engineering and design are ongoing to support this expansion.
Key Points
  • Sunrise Energy Metals Limited is advancing its plans for an expansion study to boost scandium oxide production at its Syerston project to 180 tonnes per annum.
  • Currently, the company is progressing with a 60 tonnes per annum development that is targeted for initial production by 2028.
  • The expansion study will explore alternative development pathways to optimize capital efficiency, process design, and unit operating costs.
  • This move responds to substantial forecast growth in global demand for scandium oxide and requests from customers for a reliable supply outside China.
  • The Syerston Scandium Project is set to be the world’s first source of primary mine supply for scandium end-users.
  • Global scandium supply is currently concentrated in China, mainly from titanium dioxide pigment and nickel-cobalt waste residues, highlighting the need for an alternative supply.
  • The expansion to 180 tonnes per annum would position Syerston's capacity on par with current Chinese claims, offering a secure supply from a single Australian mine.
  • The development plan for the initial 60 tonnes per annum operation is advancing with key technical aspects nearing completion, like the high-pressure acid leach circuit.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.