IperionX (earlier post) has received key development permits for the Titan Project in Tennessee. The Titan Project is the largest JORC-compliant resource of titanium and rare earth rich mineral sands in the US and represents a cornerstone asset for IperionX’s plans to re-shore a strong and sustainable domestic supply chain for titanium metal.

The major development permits include the National Pollutant Discharge Elimination System (NPDES) Permit and Surface Mining Permit, which have now been issued by the Tennessee Department of Environment & Conservation. Any residual regulatory requirements for the development of the Titan Project are expected to be complete by the end of the year.

The Titan Project has the potential to be a key source of titanium and rare earth minerals, reducing the acute reliance of mineral imports and strengthening the supply chain with low-carbon critical minerals needed by US industry.

According to the 2022 Initial Assessment (Scoping Study), the Titan Project could be the largest US producer of titanium and the rare earth minerals, monazite and xenotime, which includes both light and heavy rare earths. In-situ metal content of titanium and rare earths over the life of the Project represents potential production of ~60,500 Boeing 787s and ~24,000,000 electric vehicles.

The project has the potential to satisfy 100% of the US Department of Defense needs for titanium and the heavy rare earths required for national security.

The Scoping Study highlighted a projected life-of-mine annual EBITDA of ~US$117 million, after-tax NPV8 of US$692 million and an after-tax IRR of 40%. Further, IperionX plans to assess the application of its breakthrough titanium technologies to upgrade ilmenite at the Titan Project to produce higher grade, low carbon, Green Rutile.

IperionX has advanced a number of opportunities for Titan Project funding and sales contracts, and continues to progress a range of US government funding and incentives opportunities that are available to re-shore critical material supply chains—with the US currently sourcing morethan 80% of titanium minerals and almost 100% of its separated rare earth oxides from foreign countries.

These federal funding opportunities and incentives include the Defense Production Act Title III program and a range of Department of Energy programs made possible by the Inflation Reduction Act and Bipartisan Infrastructure Law designed to support environmentally responsible production, reuse, and recycling of critical minerals and materials in the United States.