IperionX Receives US$11.5 Million LOI From EXIM Bank for U.S. Titanium Production
- IperionX has received a Letter of Interest from EXIM Bank for $11.5 million in equipment finance
- The proposed Titanium Production Facility may qualify for equipment finance under EXIM's 'China and Transformational Exports Program' and 'Make More in America Initiative'
- IperionX plans to build a 125 metric ton per annum titanium production facility in Virginia
- IperionX can produce a wide range of titanium products with higher energy efficiency, lower costs, and lower environmental impacts
- None.
IperionX has received notification from EXIM that the proposed Titanium Production Facility may qualify for equipment finance under both EXIM’s ‘China and Transformational Exports Program’ and ‘Make More in America Initiative’. These two programs enable EXIM to extend its existing medium and long-term loan and loan guarantee programs to support projects that reduce Chinese dominance in strategic sectors and advance export-orientated domestic projects, such as IperionX’s proposed Titanium Production Facility in
IperionX intends to apply equipment finance from EXIM Bank towards key production assets including industrial furnaces and comminution equipment, expected to cost approximately
IperionX plans to build a 125 metric ton per annum titanium production facility in
Titanium is prized for its high strength-to-weight ratio, resistance to high temperatures and corrosion. Titanium is a critical material for many
IperionX has the potential to deliver a full
While the LOI is non-binding and conditional, the potential funding support from EXIM Bank provides IperionX with a strong foundation as it advances a range of competitive funding options for its proposed Titanium Production Facility. IperionX does not intend to advise or update the market with respect to any EXIM Bank financial support application or discussion, unless the Company reaches a definitive agreement for
Anastasios (Taso) Arima, IperionX CEO said:
“Titanium for the
About IperionX
IperionX aims to become a leading American titanium metal and critical materials company – using patented metal technologies to produce high performance titanium alloys, from titanium minerals or scrap titanium, at lower energy, cost and carbon emissions.
Our Titan critical minerals project is the largest JORC-compliant mineral resource of titanium, rare earth and zircon minerals sands in
IperionX’s titanium metal and critical minerals are essential for advanced industries including space, aerospace, defense, consumer electronics, hydrogen, electric vehicles and additive manufacturing.
About EXIM Bank
EXIM is the official export credit agency of the
The Make More in America Initiative (“MMIA”) was developed in response to President Biden’s Executive Order 14017 on American Supply Chains and provides
The
Forward Looking Statements
Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.
Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, the Company’s ability to comply with the relevant contractual terms to access the technologies, commercially scale its closed-loop titanium production processes, or protect its intellectual property rights, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.
Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.
Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements, or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.
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Anastasios (Taso) Arima, Founder and CEO
Toby Symonds, President
Dominic Allen, Chief Commercial Officer
Investors: investorrelations@iperionx.com
Media: media@iperionx.com
+1 980 237 8900
www.iperionx.com
Source: IperionX Limited
FAQ
What is the amount of equipment finance that IperionX received from EXIM Bank?
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