IperionX Limited announces that the U.S. Department of War (DoW) through its Industrial Base Analysis and Sustainment (IBAS) program, has obligated the final US$4.6 million under IperionX’s previously awarded US$47.1 million award. The funds 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 (tpa).
Additionally, the U.S. Government has transferred ~290 metric tons (320 short tons) or high-quality titanium alloy (Ti64) scrap metal to IperionX for no cost, which is material that is surplus to its needs. The scrap metal is equivalent to approximately 1.5 years’ worth of IperionX’s titanium feedstocks at the existing full operating capacity of 200 metric tons per year. IperionX currently holds ~90 metric tons of titanium scrap metal in inventory at its facility, exclusive of the 290 metric tons to be transferred by the U.S. Government.
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The IBAS program is designed to reinforce U.S. defense supply chains by fostering a resilient, low-cost, titanium platform that reduces reliance on imports and establishes a secure, uninterruptible domestic source of critical materials.
This final obligation follows prior tranches totaling US$42.5 million, which funded activities including long-lead items for titanium manufacturing equipment and to advance the Titan Critical Minerals Project in Tennessee to shovel-ready status. All funding obligations from the DoW have now been received by IperionX.
SOURCE: IperionX