Sunrise Energy Metals

Sunrise Energy Metals Ltd (ASX:SRL, OTCQX:CTEQF) is focused on developing its 100% owned Sunrise Battery Materials Complex project in New South Wales, Australia. The Sunrise nickel-cobalt-scandium project hosts a globally significant nickel and cobalt resource, which can support 1.2–1.6 TWh of lithium-ion battery production capacity over its 50-year mine life. The project is planned to produce an average of 21.3 ktpa nickel and 4.4 ktpa cobalt, along with scandium co-products, over the first decade of operation. Sunrise Energy Metals completed a bankable feasibility study on the Sunrise project in 2020.

The Sunrise deposit has total mineral resources of 962 Mt at 0.71% nickel and 0.09% cobalt, which include total ore reserves of 166 Mt at 0.86% nickel and 0.10% cobalt. The resource starts from the surface and extends to an average depth of 40 meters. The project is designed as an integrated mining-to-nickel/cobalt sulfate operation using a conventional pressure acid leach process flowsheet. It has environmental approval and a mining lease in place.

In October 2023, Sunrise Energy Metals outlined evaluating options to locate the Sunrise refinery in the United States to help the Sunrise project qualify for funding under the Inflation Reduction Act and develop it to be a sustainable battery material project in the fast-growing US electric vehicle industry.