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US defence agency reportedly seeks to buy scandium oxide from Rio Tinto
Yahoo Finance· 2025-09-23 19:10
The US Defense Logistics Agency (DLA) is planning to purchase scandium oxide worth up to $40m (£29.62m) from Rio Tinto over the next five years to enhance the US defence stockpile, reported Reuters. The move aims to secure a stable supply of scandium, a rare earth element (REE) critical to Western defence and technology sectors, following China's imposition of export controls. The agency intends to acquire 6.4 tonnes (t) of scandium oxide within the five year period, beginning with nearly 2t in the first ...