Titan Critical Minerals Project by IperionX: status and timeline

Titan Critical Minerals Project

Exploration-stage critical minerals project in Tennessee on 11,000+ acres holding the largest US JORC-compliant resource of titanium, rare earth and zircon minerals.

PilotStage 3 of 5

DFS completed June 2026: $813M NPV, 39% IRR. Permitting and mine planning underway for 2028 production start.

Updated 4 Jun 2026Checked 10 Oct0 updates this week

Milestones

Next · Mining and environmental permits

Development permits received2023Complete.
DFS commenced with US govt supportApr 2025Complete.
DFS completed with $813M NPVJun 2026Complete.
Mining and environmental permitsTarget 2027Current milestone.
Mining and beneficiation ramp-upTarget 2028Not yet reached.

Most important updates

Upcoming

2027Mining and environmental permits (next)
2028Mining and beneficiation ramp-up
2028Mine and beneficiation plant construction

Current obstacles

Permitting and community acceptanceMineral mining requires water management, habitat protection, and rural buy-in.
Beneficiation and tailings disposalSeparating heavy minerals from 2B tons ore creates massive tailings; disposal costly.
Offshore cost competitionAustralia, Brazil, China have lower-cost mines; Titan competes on supply security.

Physics limits

Mining cannot exceed resource base2B ton ore is large but extraction rate limited by water, tailings, plant capacity.
REE separation is complex chemistry15+ rare earth elements require chemical separation to pure products; infrastructure costly.

How it works

4 parts

Mining

Open-pit mineral sand extraction

Unconsolidated mineral sands near surface; relatively easy open-pit mining.

Beneficiation

Separation of heavy minerals from waste

Gravity and magnetic separation isolate titanium minerals from quartz sand.

Smelting to metal

Ore sent to HAMR furnace or smelter

Titanium concentrate to Virginia HAMR; REE chemically separated; zircon direct value.

Supply security

Domestic replaces import dependence

US currently imports 60%+ rare earths; Titan domestic supply reduces geopolitical risk.

Spec sheet

Spec	Titan Critical Minerals Project
JORC mineral resource	2 billion tonnes mineral sands^R (reported)
Project area	Over 11,000 acres in Tennessee^R (reported)
Primary minerals	Titanium, rare earths, zircon, silica^R (reported)

^R reported by the company

Update log

2 updates

Thu 4 Jun

Major: Titan DFS confirms high-return critical minerals project with $813M NPVPressResearch

Apr 2025

Major: IperionX commences Titan DFS with US government supportPressResearch

About IperionX

The team behind Titan Critical Minerals Project

IperionX

Titanium metal, critical minerals, HAMR hydrogen, Virginia

IperionX is an American titanium and critical minerals company (NASDAQ/ASX: IPX) based in Charlotte, North Carolina. It operates a commercial titanium facility in South Boston, Virginia using proprietary HAMR technology, and owns the Titan critical minerals project in Tennessee.

Virginia facility uses HAMR (hydrogen-assisted metal recycling) for titanium from scrap.
First HAMR run August 2024 reduced oxygen from 3.42% to 0.07%, better than ASTM Grade 5.
Titan project in Tennessee holds largest US JORC titanium/rare-earth mineral resource.

iperionx.com (opens iperionx.com)Company profile →

Founded: 20179 yrs
Headquarters: United States
Status: Public
Valuation: public
Works in: MaterialsAlloys & superconductors
Coverage: 2 programs · 6 updateslatest 4 Jun 2026checked 10 Oct
Customers: US Department of Defense (opens defense.gov)
People: Taso Arima (opens iperionx.com)Founder and Chief Executive Officer

Spec

Titan Critical Minerals Project

JORC mineral resource

2 billion tonnes mineral sands^R (reported)

Project area

Over 11,000 acres in Tennessee^R (reported)

Primary minerals

Titanium, rare earths, zircon, silica^R (reported)