IperionX Limited (NASDAQ:IPX) saw a 28.4% increase in share prices last week, reaching just shy of its all-time high. The surge was driven by a new deal with the US Army for 700 lightweight titanium components for heavy ground combat systems.

The deal is worth $300,000 and could increase significantly with successful delivery. Replacing steel components with titanium is expected to reduce combat systems’ weight by 40-45%, improving agility, acceleration, operational range, and survivability while reducing ground pressure.

IperionX is the only US producer of commercial-scale primary titanium metal, a material critical to the US government. The purchase order supports reshoring and securing critical material supply chains, reducing reliance on foreign sources, and expanding domestic manufacturing capacity.

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Read more at Yahoo Finance: IperionX (IPX) Climbs 28.4% on New Govt Deal