IperionX Limited has signed a framework agreement with United Stars Holdings, Inc. with terms that will underpin a definitive commercial supply agreement for IperionX?s titanium products. United Stars expects to purchase up to 80 metric tons annually of IperionX?s high-performance, low cost and sustainable titanium products over a 10-year supply term. United Stars and IperionX?s partnership will focus on the defense and advanced technology sectors with products for vehicle drivetrains, robotic motors and wind turbines, that require lightweight, strong, compact and corrosion resistant performance.

IperionX is building an end-to-end American titanium supply chain solution, that spans from the production of U.S. sourced titanium minerals, advanced technology to refine these minerals to +99% TiO2, and the capability to utilize the largest range of recycled scrap titanium to produce low-cost and high-performance titanium alloys. Key terms of the framework agreement: IperionX and United Stars have signed a non-exclusive framework agreement to underpin the terms for a definitive titanium supply agreement, which the parties have agreed to work together in good faith to prepare and negotiate. The definitive titanium supply agreement is expected to include the sale and purchase of the lesser of 40% of IperionX?s Phase 1 titanium production capacity, or 80 metric tons per annum of IperionX?s angular titanium powder and consolidated titanium products, for a 10 year term.

Final pricing and payment terms will be agreed under the definitive supply agreement. The Framework Agreement is effective from April 12, 2024 until the execution of the definitive titanium supply agreement, and can be cancelled by IperionX or United Stars with 60 days written notice.