According to CoinMeta, the stock price of Sunrise Energy Metals in Australia soared 29% on Monday after securing a $400 million long-term debt financing from the U.S. Department of Defense. This financing will support its development of the world's first major bauxite project. The support from the Trump administration comes as major economies seek to break China's long-standing dominance in the rare earth sector. Robert Friedland, the chairman of Sunrise, called this funding a "milestone moment" for the company and Australian mining. He stated that the ability to obtain key minerals will affect industrial strength, technological leadership, and national security.