IperionX Titan study confirms high-return US project

IperionX (ASX:IPX) has announced the results of its US government-supported definitive feasibility study for the Titan Critical Minerals Project, confirming it as a high-return, shovel-ready asset designed to secure domestic supply chains.

Located near Camden, Tennessee, the 100%-owned project boasts an initial 14-year mine plan based entirely on proved and probable ore reserves, with a maiden ore reserve of 117 million tonnes.

The study delivers a compelling investment case, forecasting an after-tax net present value of US$813 million, an internal rate of return of 39%, and US$1.9 billion in after-tax free cash flow.

Development will follow a capital-efficient, staged pathway, requiring US$228.1 million for Phase 1 and an incremental US$153.2 million for Phase 2.

Once fully operational, the project is projected to generate an average annual Phase 2 EBITDA of US$226 million.

As a multi-critical-mineral platform, Titan will produce titanium minerals, zircon, and a heavy rare earth concentrate rich in dysprosium, terbium, and yttrium. These minerals are vital to US defence, aerospace, advanced manufacturing, and semiconductor sectors.

Supported by Industrial Base Analysis and Sustainment funding, the project leverages exceptional regional infrastructure and key existing permits.

IperionX CEO Taso Arima highlighted Titan as a cornerstone for an integrated strategy to reduce reliance on foreign supply chains.

At the time of reporting, IperionX’s share price was $5.57.