Mentioned:
A publicly traded titanium company on the Nasdaq has landed a new infusion of cash from the United States Department of Defense. But, why?
What’s happening:
- IperionX (NASDAQ: IPX) has been awarded a new $99M USD contract from the United States Department of Defense to supply them with titanium for defense applications
Why it matters:
- IperionX’s Titan Project is one of the single largest deposits of titanium, rare earth elements and zircon in all of North America
Going deeper:
- The new funding from the United States Department of Defense will largely be focused on high performance titanium fasteners being produced at IperionX’s Titanium Manufacturing Camps located in Virginia
- This is also not the first time that the United States Department of Defense has awarded IperionX funding, previously committing $47.1M USD to scaling up production of titanium at their flagship property located in Tennessee
The intrigue:
- The deal between IperionX and the United States Department of Defense may also eventually expand into IperionX producing aerospace parts and other types of advanced titanium based materials that are essential inputs for national security missions
