How IperionX Plans to Become America’s Largest Titanium Producer by 2027

Operational Milestones and Capacity Growth

IperionX Limited has reported significant progress in its September 2025 quarterly update, highlighting that all major manufacturing equipment at its Virginia Titanium Manufacturing Campus is now fully operational. The company has achieved a 60% increase in its nameplate titanium powder production capacity, lifting it from 125 to 200 tonnes per annum (tpa) without additional capital expenditure. This operational efficiency is attributed to process improvements and optimization of proprietary HAMR and HSPT technologies.

Looking ahead, IperionX plans to scale production dramatically to 1,400 tpa by mid-2027. This seven-fold increase is supported by a US$75 million capital expansion program, predominantly funded by a US Department of War (DoW) Industrial Base Analysis and Sustainment (IBAS) award of US$47.1 million. The expansion aims to position IperionX as America’s largest and lowest-cost titanium powder producer, a strategic move to reduce reliance on foreign imports and bolster national security supply chains for aerospace, defense, and electric vehicles.

Commercial Production and Market Engagements

Commercial operations are underway with production of titanium components for various sectors. Notably, IperionX has commenced processing consumer electronics scrap supplied by an OEM partner, producing titanium metal powder and components as per contract specifications. Additionally, the company has started manufacturing titanium fasteners, securing initial purchase orders for military, commercial, and industrial applications. These developments underscore IperionX’s expanding footprint in high-value titanium product markets, including defense projects with the US Army and Navy.

The company’s roadmap targets a positive EBITDA inflection point by the end of 2026, driven by scaling sales and operational efficiencies. IperionX’s patented HAMR and HSPT technologies are central to achieving a cost structure competitive with stainless steel and aluminum by 2030, leveraging higher manufacturing yields and reduced energy and capital intensity.

Strategic Funding and Financial Position

Financially, IperionX closed the quarter with US$79.2 million in cash. In July 2025, it raised an additional A$70 million (approximately US$46 million) through a private placement, with proceeds earmarked for accelerating Phase 2 capacity scale-up, expanding Phase 1 operations, and advancing Phase 3 studies and R&D. Directors and key management participated in the placement, signaling strong alignment with shareholders.

The company has deprioritized debt funding, relying instead on government grants and equity to finance its growth. The DoW’s continued funding support, including a recent US$37.5 million obligation under the IBAS award, has enabled IperionX to finalize its scale-up plans confidently.

Titan Critical Minerals Project Progress

Complementing its manufacturing expansion, IperionX is advancing the Titan Critical Minerals Project in Tennessee. The project, which holds the largest JORC-compliant resource of titanium, rare earths, and zircon minerals in the US, is progressing towards a Definitive Feasibility Study (DFS) expected by Q2 2026. Supported by a US$5 million DoW grant, this project aims to secure a domestic supply of critical minerals essential for titanium production and broader strategic industries.

This integrated approach, from mineral extraction to advanced titanium manufacturing, positions IperionX as a key player in strengthening the US titanium supply chain and critical materials independence.