A 39-page Industry Report titled “Scandium – A Metal for a Green Future: Your Guide to Understanding and Investing in Scandium Companies” has been recently published by eResearch Corp. (www.eresearch.com).
This free report provides a detailed overview of the scandium industry, including supply and demand factors, applications of scandium, and the growing demand for aluminum-scandium alloys.
The report highlights 17 mining companies specializing in scandium exploration and mining, with a focus on Imperial Mining Group (TSXV: IPG).
Imperial Mining, a Canadian company, is advancing its Crater Lake Scandium-Rare Earths (REE) Project in Quebec, Canada, from the Preliminary Economic Assessment (PEA) stage to Feasibility. The Crater Lake Project contains elements such as scandium, dysprosium, lanthanum, neodymium, praseodymium, and terbium.
Other companies featured in the report include Rio Tinto (LSE: RIO), NioCorp (TSX: NB), Scandium International Mining (TSX: SCY), and American Rare Earths (ASX: ARR).
Scandium is primarily used in aluminum-scandium (Al-Sc) alloys, Solid Oxide Fuel Cells (SOFC), and also in ceramics, electronics, lasers, lighting, and the production of radioactive isotopes. Scandium is alloyed with aluminum, similar to how niobium is alloyed with steel. When alloyed with aluminum, scandium creates a stronger, lightweight, and corrosion-resistant alloy suitable for aerospace, aviation, defense, automotive, and energy transmission applications.
Al-Sc alloy powders are also used in 3D printing of complex metal structures that are difficult or expensive to produce using traditional fabrication methods, as demonstrated by Relativity Space (www.relativityspace.com) in their rocket-building processes.
The report emphasizes the potential for growth in the scandium market, driven by demand from industries seeking lightweight yet strong components to improve energy efficiency. Current forecasts predict that demand could increase from 20 to 30 tonnes annually to almost 500 tonnes by 2030, driven by the aerospace, automotive, defense, SOFC, and wind turbine industries.
However, scandium's supply is constrained, as it is typically produced as a by-product or co-product during the processing of other ores. Projects like Imperial Mining’s Crater Lake are crucial, as they represent pure-play scandium mines with additional REE mineralization, strategically located near major aluminum production facilities in Quebec.
The report also highlights the importance of securing domestic supply chains for critical minerals, including scandium, in light of recent geopolitical and supply chain issues. Currently, scandium production is primarily concentrated in China, the Philippines, and Russia. Scandium is listed as a Critical Mineral in Australia, Canada, the European Union, and the United States.
Chris Thompson, Director of Research at eResearch, commented, “If the aluminum industry alloyed just 0.1% of the annual production with a scandium concentration of 0.5%, it would result in an annual global scandium demand of 345 tonnes, or 11 times the current demand. This would significantly benefit scandium miners.”
To download the free 39-page Scandium Report, please visit eResearch's website (www.eresearch.com).
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