IperionX has been awarded a contract for up to USD 47.1M in funding by the US Department of Defense (DoD) to strengthen the US Defense Industrial Base by accelerating development of a resilient, low-cost, and fully-integrated US mineral-to-metal titanium supply chain.
This strategic partnership represents a combined investment of USD 70.7M between IperionX and the DoD to fund a two-phase development programme over a two-year period. The agreement aims to strengthen US titanium production capabilities, supporting national security and economic resilience.
As part of the initial phase, the DoD has obligated USD 5M through the Industrial Base Analysis and Sustainment (IBAS) programme and IperionX will contribute USD 1M to expedite the Titan Critical Minerals Project in Tennessee to ‘shovel-ready’ status.
The remaining USD 42.1M awarded under the contract is expected to be obligated by the DoD over the duration of the agreement, with the funds to be applied to facilitating vertical integration and increased titanium production capacity at IperionX’s Titanium Manufacturing Campus in Virginia.
