US-focused Perth company IperionX has secured a contract with the US department of defence, valued up to $US99 million.
US-focused Perth company IperionX has secured a contract with the US department of defence valued up to $US99 million, or $152.2 million.
Under the Small Business Innovation Research Phase III contract, IperionX will be able to supply titanium components and parts to US government agencies which place project-based task orders.
“IperionX is working with US DoD agencies on project task orders that will draw down on the contract ceiling,” the company said.
“Initial titanium manufacturing and supply projects, expected to commence in the coming months, will include titanium fasteners produced using IperionX’s patented titanium production and advanced forging technologies.
“These titanium parts will be manufactured at IperionX’s Titanium Manufacturing Campus in Virginia, supporting local skilled jobs and strengthening the US defense industrial base.”
IperionX chief executive Anastasios Arima told the market that the contract was a “pivotal milestone” for the company.
Thursday’s update follows on from news earlier this year that IperionX had been awarded a contract for up to $US47 million, or $74 million at the time by the US DOD to develop a low cost mineral-to-metal titanium supply chain.
As of 8.23am AWST, IperionX shares were up 15 per cent to $4.28.
