Crazy Flux
  • Business
  • World
  • Stocks
  • Investing
  • Business
  • World
  • Stocks
  • Investing

Crazy Flux

Investing

IperionX Announces US$47.1 Million Titanium Deal with US Department of Defense

by admin February 22, 2025
February 22, 2025
IperionX Announces US$47.1 Million Titanium Deal with US Department of Defense

The US Department of Defense (DoD) has awarded titanium metal and critical materials company IperionX (ASX:IPX,NASDAQ:IPX) a contract for up to US$47.1 million in funding.

The strategic partnership will focus on strengthening the US Defense Industrial Base by accelerating the development of a resilient, low-cost and fully integrated American mineral-to-metal titanium supply chain.

The DoD and IperionX will put a combined US$70.7 million into the endeavor, which will involve a two phase development program that will take place over a period of two years.

Under the initial phase of the deal, the DoD will provide US$5 million through the Industrial Base Analysis and Sustainment program, while US$1 million will be contributed by IperionX.

The funds will be used to advance the Tennessee-based Titan critical minerals project to shovel-ready status.

“For too long, American industry has been reliant on foreign-controlled supply chains for this critical high-strength metal. IperionX’s proprietary technologies, combined with the Titan Project, offer a pathway for a resilient end-to-end U.S. titanium supply chain,” said IperionX CEO Anastasion Arima in a Monday (February 17) release.

The DoD will allocate the remaining US$42.1 million outlined in the contract over time; this money will support vertical integration and boost titanium production at IperionX’s Virginia facility.

The Virginia facility is the first 100 percent recycled titanium metal powder facility.

The DoD’s support for IperionX comes after it completed market research aimed at finding ‘practical alternatives’ to the import-reliant US supply chain for high-purity titanium sponge and titanium alloy metals.

It solicited proposals from industry in 2024, and ultimately selected IperionX.

US Geological Survey data shows that titanium sponge metal was produced by one operation in Utah in 2024, with US producers of titanium ingot and downstream products “relying on imports of titanium sponge and scrap.”

Meanwhile, the US produced 100 metric tons of ilmenite, the primary titanium ore, last year.

“Titanium is a critical material for the aerospace, defense, automotive, space, and consumer industries, but its high cost and reliance on foreign supply chains have limited its broader adoption,” IperionX said.

‘(We) look forward to working closely with the DoD and industry partners to execute this landmark initiative.”

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Crypto Market Recap: SEC Dismisses Coinbase Case, Debuts New Cyber Fraud Unit
next post
Market Rotation and Cap-Weight Dynamics: A Closer Look

Related Posts

Tech 5: Trump’s Tariffs Send Stock Market into...

April 6, 2025

Nuvau Minerals Inc. Changes Financial Year-End

March 1, 2025

PDAC 2025: Investment Capital, AI Energy Demand and...

March 12, 2025

Ontario Tables Sweeping Bill to Restrict Foreign Access...

May 3, 2025

Rick Rule: Where I See 10+ Bagger Potential,...

March 9, 2025

Finlay Minerals Enters into Earn-In Agreements with Freeport...

April 19, 2025

Trigg Expands Tier-1 Australian Antimony-Gold Tenure with Grades...

March 19, 2025

Grande Portage Stakes Added Claims to Accommodate Potential...

May 8, 2025

Silver Price Update: Q1 2025 in Review

April 10, 2025

xU3O8 (uranium.io): Pioneering Physical Uranium Ownership Powered by...

May 2, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Austrian court quashes ex-Chancellor Kurz’s perjury conviction

      May 27, 2025
    • Macron’s office dismisses viral video showing apparent shove from wife Brigitte

      May 27, 2025
    • ‘Every time, I was sure this was the end’: Former IDF hostage in Gaza says one of her biggest fears was Israeli strikes

      May 27, 2025
    • King Charles to make ‘impactful’ trip to Canada as Trump pushes 51st state claim

      May 27, 2025
    • No, Trump. ‘Crazy’ Putin hasn’t changed. The question is, have you?

      May 27, 2025
    • Brazilian leader Lula released from hospital after suffering vertigo

      May 27, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: crazyflux.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 crazyflux.com | All Rights Reserved