IperionX Limited (NASDAQ: IPX, ASX: IPX) proudly announces the receipt of pivotal development permits for the Titan Project located in Tennessee. This project stands as the U.S.'s most substantial JORC-compliant resource of titanium and rare earth rich mineral sands. These permits are a testament to the Titan Project's significance, marking it as a cornerstone in IperionX's vision to establish a robust and sustainable domestic supply chain for titanium metal.
The Titan Project is recognized as one of the most advanced critical mineral initiatives in the U.S., playing a crucial role in ensuring the supply chain security of titanium and rare earths. These elements are indispensable for the defense, electric vehicle, and renewable energy sectors. In response to the growing demand for sustainable and cost-effective titanium metal, IperionX is committed to re-shoring a sustainable U.S. titanium mineral-to-metal supply chain. Furthermore, the company aims to enhance the sustainability of this supply chain by introducing titanium metal recycling.
The major development permits, including the National Pollutant Discharge Elimination System (NPDES) Permit and Surface Mining Permit, have been officially issued by the Tennessee Department of Environment & Conservation. The company anticipates the completion of any remaining regulatory requirements for the Titan Project by year's end.
This achievement is the culmination of over two years of dedicated community engagement and education on the sustainable development of the Titan Project. The efforts have resulted in overwhelming community support. In 2022, IperionX conducted an Initial Assessment (Scoping Study) on the Titan Project, revealing its potential for impressive economics. The study indicated approximately US$117 million of annual EBITDA, a US$692 million after-tax NPV8, and a 40% after-tax IRR.
The Titan Project enjoys the benefits of an exceptional U.S. jurisdiction, characterized by low energy costs, world-class infrastructure, a skilled workforce, favorable taxation rates, high domestic demand, and a plethora of U.S. government incentives and funding opportunities.
Currently, IperionX is actively pursuing various U.S. government incentives and funding opportunities for development. Simultaneously, the company is engaging with several leading strategic partners who have expressed significant interest in the offtake and funding of the Titan Project.
Anastasios (Taso) Arima, CEO of IperionX, remarked:
“Successfully securing these key permits for the Titan Project – North America’s largest deposit of titanium and rare earth critical minerals – is an important milestone in our plan to re-shore critical material supply chains, with our key focus on building a sustainable and low cost titanium mineral to metal supply chain.
The IperionX team have done an outstanding job in progressing from mineral discovery to the grant of key permits in just three years, and we appreciate the significant support from our stakeholders in our Tennessee community with who we are committed to developing a world class operation that can play a key role in sustainably re-shoring American jobs and advanced industry.”
About us:
IperionX’s mission is to be the leading developer of low carbon titanium for advanced industries including space, aerospace, electric vehicles and 3D printing. IperionX holds an exclusive option to acquire breakthrough titanium technologies that can produce titanium products that are low carbon and fully circular. IperionX is producing titanium metal powders from titanium scrap at its operational pilot facility in Utah, and intends to scale production at a Titanium Demonstration Facility in Virginia. IperionX holds a 100% interest in the Titan Project, which has the largest JORC-compliant resource of titanium, rare earth and zircon rich minerals sands in the U.S.
Contact details:
Jane Morgan
jm@janemorganmanagement.com.au
