08:55 AM EDT, 08/26/2025 (MT Newswires) -- IperionX ( IPX ) said Tuesday the US Department of Defense has obligated $12.5 million under its previously announced $47.1 million award to accelerate the scale-up of a US mineral-to-metal titanium supply chain.

The $12.5 million will be applied to purchase orders for major capital equipment required for capacity scale-up to over 1,000 metric tons per year at the Virginia Titanium Manufacturing Campus, the company said.

Funding obligations received under the Pentagon award now total $17.5 million, according to the company.

Shares of IperionX ( IPX ) rose more than 2% in recent premarket activity Tuesday.

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