Sunrise Energy Metals said it was evaluating setting up a nickel and cobalt refinery in the United States and said it was in "ongoing engagement" with U.S. automakers and government agencies.The company (formerly Clean TeQ Holdings) is developing the Sunrise Nickel-cobalt-Scandium project in the central west of New South Wales, which was awarded major project status by the federal government in 2021.
New South Wales is reported to have one of the largest nickel/cobalt deposits in the world.Nickel and cobalt sulfate are key raw materials for battery manufacturing, and scandium is a metal whose uses include reducing the weight of aluminum alloys.On the morning of Oct. 5, Sunrise told its shareholders that it would continue to work with "a range of players in the electric vehicle industry" on financing options for the site.Siting a refinery in the United States will meet eligibility criteria for critical mineral-related initiatives, including funding provided by the Department of Energy (DoE) under the bipartisan Infrastructure law; Qualification for Title III of the Defense Production Act; And the US Department of Energy's $20 billion Advanced Technology Vehicle Manufacturing Loan program.
