IperionX Limited, a U.S.-based materials company, has secured a US$47.1 million contract from the U.S. Department of Defense (DoD). This funding is aimed at fortifying the U.S. Defense industrial base by advancing the development of a reliable, cost-effective, and fully integrated titanium supply chain—from mineral extraction to metal production—thereby enhancing national security and economic resilience. The agreement represents a combined investment of US$70.7 million, which will fund a two-phase development program over the next two years. In the first phase, the DoD has allocated US$5 million through the Industrial Base Analysis and Sustainment (IBAS) program, with IperionX contributing an additional US$1 million. These funds will expedite the Titan Critical Minerals Project in Tennessee, advancing it to project-ready status—an essential step in establishing a new domestic source of titanium, rare earths, and zircon critical minerals. The remaining US$42.1 million will be allocated to IperionX’s Titanium Manufacturing Campus in Virginia, ensuring vertical… read more