Donald Trump, ‘Toxic Bob’ and the $3.1b patch of dirt near Dubbo
Mining financier Robert Friedland saw his wealth increase significantly after the US government announced a loan for the Syerston Scandium Project in Australia. The project, supported by the Trump administration, aims to secure a domestic supply chain for critical minerals.
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The story illustrates the intersection of government industrial policy, critical mineral supply chains, and the financial gains of private investors.
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Share A A A A billionaire American mining financier, once known as “Toxic Bob” because of his environmental record, is nearly $124 million richer after US President Donald Trump backed a little-known Australian mining explorer with a $560 million loan.
The paper wealth of the colourful and wealthy American-Canadian mining identity Robert Friedland soared $124.5 million over a 1½-hour period on Australia’s stock exchange on Monday morning after Australian mining company Sunrise Energy Metals revealed details of the US government’s support for its Syerston Scandium Project in NSW.
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