Mentioned:
The American government is getting serious about securing the future of domestic titanium supply. And they are turning to a publicly traded company to do it.
What’s happening:
- IperionX (NASDAQ: IPX) has been awarded $47.1M USD in new funding from the United States Department of Defense to advance American titanium supply
By the numbers:
- $5M USD will go initially be provided to go towards advancing IperionX’s flagship Titan Critical Minerals Project, with $1M USD being committed directly by IperionX
- The remaining $42.1M USD will go towards scaling up production of titanium and building out a fully domestic supply chain around the Titan Critical Minerals Project
Why it matters:
- This is one of the largest funding commitments from the American government that has ever been awarded to a publicly traded company for domestic titanium supply
Going deeper:
- IperionX’s Titan Critical Minerals Project located in Tennessee is the single largest titanium resource in all of the United States of America and also contains significant amounts of rare earth elements
Market reaction:
- Shares of IperionX were up +15% following the announcement
