IperionX (ASX:IPX) secures key permits for Titan project, Tennessee

• IperionX (IPX) secures key development permits for its Titan project in Tennessee from crucial US bodies
• The Titan project possesses the largest repository of titanium and rare earth-rich mineral sands in the USA
• The permits strengthen the company’s efforts to establish a domestic and recyclable titanium mineral-to-metal supply chain
• Remaining regulatory obligations for the Titan project’s development are expected to be fulfilled by the end of 2023
• IPX shares last traded at $1.06

ASX and NASDAQ-listed IperionX (IPX) has secured key development permits for its Titan project in Tennessee from crucial US bodies.

The permits strengthen the company’s efforts to establish a domestic and recyclable titanium mineral-to-metal supply chain.

The Titan project possesses the largest repository of titanium and rare earth-rich mineral sands in the United States. It has the potential to re-establish a domestic supply chain for critical titanium and rare earth minerals vital for electrification and defence.

Among the significant permits obtained are the National Pollutant Discharge Elimination System Permit and the Surface Mining Permit. These permits were issued by the Tennessee Department of Environment and Conservation.

“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,” IPX CEO Anastasios Arima said.

In the past year, IPX conducted a scoping study on the Titan project, revealing an annual EBITDA of approximately US$117 million, an after-tax NPV8 of US$692 million, and an after-tax IRR of 40 per cent.

The remaining regulatory obligations for the Titan project’s development are expected to be fulfilled by the end of 2023. In the meantime, the company is actively working on funding strategies through collaborations with prominent strategic partners in the industry.

IPX shares last traded at $1.06.