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

Takeover Update – Offer Declared Best and Final

March 17, 2025

Completion of Airborne Survey Across NT Uranium Projects

May 27, 2025

Top 9 Manganese-producing Countries

March 19, 2025

Juggernaut Exploration

June 14, 2025

Top 5 Manganese Reserves by Country

May 2, 2025

Forte Minerals to Present at the Swiss Mining...

March 15, 2025

Don Hansen: Gold Price to Rise, Stock Market...

March 25, 2025

Nuclear Fuels Commences 2025 Kaycee Uranium Project Drill...

June 12, 2025

Walker Lane Resources: Advancing High-grade Gold, Silver assets...

April 24, 2025

Experts: Canada at Crypto Crossroads as Opportunity Meets...

May 30, 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

    • Built inside a mountain and hardened against bunker-busting bombs. Here’s what we know about Iran’s Fordow nuclear site

      June 18, 2025
    • Dozens killed by Israeli fire as they sought desperately needed aid in Gaza, Palestinian health ministry says

      June 18, 2025
    • US man arrested in Greece after bodies of infant and her mother found in Roman park

      June 18, 2025
    • One number could define the Iran-Israel conflict’s outcome

      June 18, 2025
    • Taking on Israel’s greatest foe has banished Netanyahu’s political troubles in an instant

      June 18, 2025
    • Spain says April blackout was caused by grid failures and poor planning, not a cyberattack

      June 18, 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