Australian Mines has announced substantial increases to its JORC 2012 Mineral Resource Estimate at the Flemington deposit, with scandium resources rising from 3.7Mt to 6.7Mt.

The expansion of the mineral resource estimates, which are primarily classified as Measured and Indicated, follows a review of 500 drillholes that were previously excluded from historical records. The updated resources indicate a greater potential for mineralisation at low cutoff grades of 300ppm. In particular, the near-surface lateritic resources have risen from 3.7Mt at 458ppm to 6.3Mt at 446ppm. This enhancement has led the company to reevaluate various mining and metallurgical factors to optimise its potential production scenarios. Notably, 90% of the resource is found within 50m of the surface, increasing the deposit's attractiveness for mining operations.

Revisions to the Flemington scoping study were driven by increasing optimism surrounding scandium’s demand outlook, specifically regarding its role in the hydrogen economy through solid oxide fuel cells (SOFCs). Currently, solid oxide fuel cells (SOFCs) account for over 60% of scandium demand, with SOFC demand projected to grow by 9.2% CAGR over the next decade.

Currently, China dominates global scandium supply, producing 80% of the total production. The Flemington project is anticipated to have a Life-of-Mine spanning 18 years, with an expected high-grade scandium oxide output of 50tpy. This development would position Australian Mines as a prominent supplier in the expanding energy technology sector, which is focused on minimising the carbon footprint associated with power generation. The Flemington deposit therefore presents a unique opportunity for Australia to become a key player in the scandium industry.