IperionX Limited (IPX: ASX), an American titanium metal and critical materials company that aims to produce high-performance titanium alloys from titanium minerals or scrap titanium at lower energy, cost and carbon emissions, has released its quarterly report for the period ending June 30, 2025. The report highlights significant progress in commercial operations, customer partnerships, and U.S. government backing. Production is now online at its Titanium Manufacturing Campus in Virginia, with all major equipment successfully commissioned and meeting operational capacity. Repeated production cycles of the Hydrogen Assisted Metallothermic Reduction (HAMR) furnace are yielding high-quality titanium that exceeds industry standards, according to the company.
Customer engagement accelerated during the quarter across automotive, defence, and aerospace sectors. Consumer-electronics scrap processing has also commenced, validating a circular supply chain from recycled titanium feedstock to manufactured forged titanium parts. IperionX is also building a pipeline of partnerships with global manufacturers seeking to transition to low-cost, sustainable, circular, and traceable titanium supply chains. The company also received a Small Business Innovation Research (SBIR) Phase III Indefinite Delivery, Indefinite Quantity (IDIQ) contract allowing task order funding from U.S. Department of Defense (DoD) agencies up to a total of US$99 million.
Subsequent to the quarter’s end, on July 23, 2025, IperionX announced a private placement to raise approximately US$46 million. These funds will be used to fast-track the ordering of long-lead HAMR and HSPT modules, along with parallel expansion of forging capacity, to meet 2026-2027 production schedules. The company’s Titan Critical Minerals Project Definitive Feasibility Study (DFS) is progressing, funded partly by the recent U.S. DoD award.
IperionX reported a strong financial position, closing the quarter with US$55 million in cash. The private placement is expected to bring pro-forma cash to approximately US$100 million. Proceeds from the placement will be used to accelerate Phase 2 capacity scale-up, scale Phase 1 operations, and scale HSPT pressing and furnace capacity.
