This article first appeared on GuruFocus .

A critical minerals company, Sunrise Energy Metals (SRL), shares surged 15% Monday after the Australian miner secured conditional U.S. government backing of up to $400 million for its scandium project, adding momentum to Washington's effort to build alternative critical-mineral supplies.

The financing comes through the Office of Strategic Capital under a proposed 25-year debt facility. The funds are intended to support development of the Syerston Scandium Project in New South Wales, where Sunrise plans to produce scandium for applications including aerospace and defense.

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Sunrise shares gained 16% to close at A$18.49 after reaching nearly 29% earlier in the session. The company also said it has started preparations for a potential U.S. stock-market listing, although completion is not guaranteed.

The funding is part of a broader U.S. push to reduce dependence on overseas critical-mineral supply chains. Other commitments include $1.4 billion for Sila Nanotechnologies and $150 million for Niron Magnetics, while Washington has outlined billions of dollars in projects aimed at strengthening mineral and battery supply.