IperionX’s Titan Critical Minerals Project DFS yields an after-tax NPV8 of US$813 million, IRR of 39% and a 3.6-year payback over a 14-year mine life. Phase 1 requires US$228.1 million capital, followed by US$153.2 million for Phase 2, generating US$1.9 billion in free cash flow.
The DFS delivers an after-tax NPV8 of US$813 million, IRR of 39% and a 3.6-year payback period. It forecasts life-of-mine EBITDA of US$2.8 billion and after-tax free cash flow of US$1.9 billion over a 14-year mine plan.
Phase 1 development requires US$228.1 million and Phase 2 incremental capital is US$153.2 million, totaling US$381.3 million for a modular, staged execution pathway. This capital-efficient structure supports rapid scale-up without hard-rock crushing.
The project holds 117 million tons of Ore Reserves at 3.2% THM, containing 3.7 million tons of heavy minerals, with approx. 80% classified as Proved. Phase 2 annual production is projected at 5,287 tpa heavy rare earth concentrate, 118,658 tpa ilmenite, 24,656 tpa rutile and 65,668 tpa zircon.
Titan leverages U.S. mineral sands with simple, wet concentration and dry separation methods. It targets critical supply chains by providing heavy rare earths, titanium and zircon for high-performance magnets, aerospace, defense and advanced manufacturing.
