IperionX Limited has secured an additional USD 25 million from the US Department of War through its Industrial Base Analysis and Sustainment (IBAS) program to support the expansion of titanium production in Virginia.
The funding forms part of a previously announced USD 47.1 million award and brings the total obligations to USD 42.5 million, with the remaining USD 4.6 million expected to be allocated over the contract term.
IperionX said the latest funding will be used to scale up production capacity at its Titanium Manufacturing Campus to 1,400 metric tons per year.
The company added that the expansion aims to establish a fully integrated, low-cost domestic titanium supply chain that can strengthen the US defence industrial base and reduce reliance on imported materials.
According to IperionX, earlier tranches of USD 12.5 million and USD 5 million were directed toward securing long-lead titanium manufacturing equipment and advancing the Titan Critical Minerals Project in Tennessee to shovel-ready status.
The company noted that the IBAS program plays a key role in reinforcing US defence supply chains by developing a secure and resilient source of critical materials.
IperionX emphasised that the funding would accelerate efforts to build out advanced titanium manufacturing capabilities.
The content of this article is based on information supplied by IperionX Limited. For more information, please refer to the official company announcement and communications from IperionX. Please consult a licensed and/or registered professional in this area before making any decisions based on the content of this article.
