IperionX Limited has secured a contract worth up to USD 47.1 million (AUD 74 million) from the US Department of Defence (DoD) to enhance the domestic titanium supply chain.
The agreement, which represents a total investment of USD 70.7 million (AUD 111 million) between IperionX and the DoD, is set to fund a two-phase development program over two years, aimed at strengthening US titanium production capabilities.
The DoD has committed an initial USD 5 million through the Industrial Base Analysis and Sustainment (IBAS) program, while IperionX will contribute $1 million to advance the Titan Critical Minerals Project in Tennessee to ‘shovel-ready’ status.
This project is expected to establish a domestic source of titanium, rare earths, and zircon critical minerals, IperionX said in an ASX announcement.
The remaining USD 42.1 million is anticipated to be allocated over the course of the agreement, supporting vertical integration and expanding titanium production capacity at IperionX’s Titanium Manufacturing Campus in Virginia.
Anastasios (Taso) Arima, CEO of IperionX, described the funding as a significant step toward re-establishing a domestic titanium industry in the United States.
“This award is a pivotal moment in IperionX’s mission to re-shore the U.S. titanium industry. For too long, American industry has been reliant on foreign-controlled supply chains for this critical high-strength metal,” Arima stated.
According to IperionX, the funding aligns with broader US efforts to bolster domestic supply chains for critical materials, particularly in sectors deemed essential for national security and economic resilience.
