09:05 AM EST, 01/16/2026 (MT Newswires) -- IperionX ( IPX ) said Friday the Pentagon has paid the final tranche of $4.6 million under a $47.1 million award.

The funds, through the Department of Defense's Industrial Base Analysis and Sustainment program, will be used to increase titanium production and manufacturing capacity at IperionX's ( IPX ) facility in Virginia.

The company also said the US government has transferred about 290 metric tons of titanium alloy scrap metal to IperionX ( IPX ) without cost.

Shares of the company were up 2% in recent premarket activity Friday.