IperionX receives $25M in U.S. funding to accelerate titanium production

IperionX (IPX) announces that the U.S. Department of War, DoW, through its Industrial Base Analysis and Sustainment, IBAS, program, has obligated an additional $25M under IperionX’s previously awarded $47.1M award. The additional obligation will be applied to the scale-up of titanium production and advanced manufacturing capacity at IperionX ‘s Titanium Manufacturing Campus, enabling output of up to 1,400 metric tons per year. This latest obligation follows prior tranches of $12.5 million and $5 million, which funded long-lead items for titanium manufacturing equipment and to advance the Titan Critical Minerals Project in Tennessee to shovel-ready status. Total obligations now stand at $42.5 million, with the remaining $4.6 million expected to be obligated by the DoW over the contract term.