IperionX Receives All Permits for Titanium Metal Production Facility in Virginia
IperionX Limited (NASDAQ: IPX, ASX: IPX) has reached a significant milestone in its quest to develop the world's largest recycled titanium metal production facility in Virginia. The company has secured all necessary permits to commence construction and operations at the planned facility. These permits include the Industrial Wastewater Discharge permit issued by the Halifax County Service Authority and the New Source Review (air pollution) permit issued by the Virginia Department of Environmental Quality.
The titanium metal production facility will be located in Halifax County, Virginia, and will house both the planned Titanium Demonstration Facility (TDF) and Titanium Commercial Facility 1 (TCF-1) operations. The facility will have a production capacity of 1,125 tons per annum (tpa) of titanium metal, and it is designed to use 100% titanium scrap metal as feedstock, making it the largest recycled titanium metal powder production facility globally.
The TDF and TCF-1 are based on an upscaled version of IperionX's current Industrial Pilot Facility in Salt Lake City, which has been operational since January 2022. The company has improved operational processes at the pilot facility to achieve a significant increase in titanium production capacity with higher efficiency and consistency.
The company plans to start titanium production at the Virginia facility in the first quarter of 2024, with a production run-rate of 125 tpa by the third quarter of 2024. A modular Stage 2 expansion to the TCF-1 level will lift titanium production capacity to 1,125 tpa by the end of 2025. However, the development of the TDF remains subject to Board approval for a final investment decision.
The facility is expected to have zero Scope 1 & 2 emissions, and it will produce UL validated 100% recycled titanium metal powder with the lowest carbon intensity on the market.
The Halifax County Development Authority will invest up to US$4 million to fund the building fit-out works for the process equipment installation in late 2023.
IperionX is committed to reshoring titanium metal production to the U.S.A., reducing reliance on imports and minimizing environmental impacts. The company has a pipeline of potential U.S. government funding programs and incentives to support domestic efforts in critical mineral and material supply chains.
Anastasios (Taso) Arima, CEO of IperionX, highlighted the significance of securing all major permits and the company's mission to become a leading developer of low carbon titanium for advanced industries such as space, aerospace, electric vehicles, and 3D printing.
With the successful development of the titanium metal production facility, IperionX aims to be the only commercial primary titanium metal producer in the U.S., providing low carbon and low-cost titanium for advanced American industries.
