The next six months will be highly active at Scandium Canada’s (TSX-V:SCD) Crater Lake Project in Québec, Canada, with the aim of completing a Prefeasibility Study, CEO Guy Bourassa tells Mining.com.au.
“In 2026, we aim to transition to a higher level of project maturity, which should be reflected in an increase in our market capitalisation,” Bourassa tells this news service.
To achieve this, the CEO says the company intends to publicise the progress of its project, among other things, by the PFS and signing strategic agreements for advancing its aluminium-scandium alloys.
“Our strategy is simple and disciplined: strengthen the technical foundation, build strong collaborations, and position Crater Lake as one of the pillars of a future North American scandium supply chain,” Bourassa continues.
Ahead of the PFS, Scandium Canada is progressing engineering studies amid engaging in discussions and developing industrial partnerships through Scandium+ which is a dedicated research, development, and commercialisation of innovative scandium uses.
Bourassa adds that the company anticipates to potentially also receive government support dedicated to critical minerals development and required infrastructure.
“Investors will be able to follow a clear progression towards the next phase of development,” Bourassa says.
Scandium Canada’s mission is to solve this problem by developing a reliable and transparent North American source, enabling manufacturers to integrate scandium into their materials on a long-term basis.
The company’s Crater Lake Project is considered the largest primary source of scandium in North America. Crater Lake has a resource of 20.9 million tonnes in the indicated category and 16.3 million tonnes in the inferred category.
According to Straits Research, the scandium market was valued at US$591.95 million ($906.2 million) in 2024. The market is projected to reach from US$643.45 million by 2025 to US$1.254 billion by 2033, growing at a CAGR of 8.7%.
Historically, scandium was produced as a by-product material in China (iron ore, rare earths, titanium, and zirconium), Kazakhstan (uranium), the Philippines (nickel), Russia (apatite and uranium) and Ukraine (uranium), as reported by the NSW Government.
Write to Aaliyah Rogan at Mining.com.au
Images: Scandium Canada
