IperionX to Acquire Rights to Rare Earth and Critical Mineral Assets Adjacent to Titan Project

Rhea-AI Summary

IperionX (IPX) agreed to acquire key Covia Camden mineral and infrastructure assets in Tennessee, adjacent to its Titan Project, for US$3 million cash.

The deal adds mineral rights, stockpiles, pre-stripped horizons, ~2,800 acres of property, equipment, and rail-linked infrastructure, with potential heavy rare earth, titanium and zircon feedstocks for an integrated Titan‑Camden critical minerals platform.

Positive

• US$3 million acquisition of Camden assets adjacent to Titan Project
• Access to approximately 1,400 owned and 1,400 leased acres in Tennessee
• At-surface pre-processed mineral-bearing stockpiles from historic operations
• Pre-stripped Lower McNairy horizons offering potential development advantages
• Established mining, processing, rail, power, water and gas infrastructure included

Negative

• US$3,000,000 cash purchase price represents an immediate cash outflow
• IperionX assumes Covia’s land reclamation obligations for certain properties

News Market Reaction – IPX

-3.52%

16 alerts

-3.52% Session close to close

-18.4% Trough in 27 hr 55 min

$1.30B Market Cap

1.3x Rel. Volume

In the Jun 15 session, IPX declined 3.52%, reflecting a moderate negative market reaction. Argus tracked a trough of -18.4% from its starting point during tracking. Our momentum scanner triggered 16 alerts that day, indicating notable trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement adds Camden’s mineral rights, stockpiles and infrastructure for US$3M next to the ...

Analysis

This announcement adds Camden’s mineral rights, stockpiles and infrastructure for US$3M next to the Titan Project, potentially enhancing feedstock flexibility and reducing development complexity. Combined with Titan’s roughly 10M tons of contained minerals and expected outputs of 5,000 tpa rare earth concentrate, 110,000 tpa titanium and 36,000 tpa zircon, the move deepens IperionX’s U.S. minerals-to-metals platform. Investors may watch future drilling, stockpile studies and integration plans to gauge realized value.

Key Figures

Camden purchase price: US$3,000,000 Contained minerals: 10 million metric tons Titan project area: 11,000+ acres +5 more

8 metrics

Camden purchase price US$3,000,000 Cash consideration for Covia Camden assets

Contained minerals 10 million metric tons Titan JORC mineral sands across >11,000 acres

Titan project area 11,000+ acres Titan mineral sands footprint in Tennessee

Rare earth concentrate 5,000 tpa Expected Titan full-production output

Titanium minerals 110,000 tpa Expected Titan full-production output

Zircon minerals 36,000 tpa Expected Titan full-production output

Owned property 1,400 acres Camden owned land included in acquisition

Leased property 1,400 acres Camden leased land included in acquisition

Previous Acquisition Reports

1 past event · Latest: Nov 26 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Nov 26	Technology acquisition	Positive	-0.9%	Acquisition of breakthrough titanium process IP for Virginia manufacturing.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Prior acquisition news saw a mildly negative next-day move despite strategic positioning.

Recent Company History

Recent news for IperionX has focused on building an integrated U.S. critical minerals-to-metals platform. A prior acquisition of breakthrough titanium technologies on Nov 26, 2024 drew a -0.87% reaction, while more recent 2026 updates on the Titan DFS, Army fastener testing, and manufacturing expansion produced mixed but generally positive price moves. Today’s Camden asset acquisition fits this pattern of adding upstream and technology assets to support Titan and the Virginia titanium platform.

Key Terms

monazite, xenotime, heavy rare earth, rare earth concentrate, +4 more

8 terms

monazite technical

"rich in monazite and xenotime – heavy rare earth minerals typically rich"

Monazite is a naturally occurring mineral that concentrates rare earth elements — the metals used in electronics, permanent magnets and clean-energy technologies — often mixed with small amounts of radioactive thorium. For investors it matters because monazite is a primary feedstock for producing those valuable metals, so its availability, grade and the extra cost and regulation tied to its radioactivity can sharply affect mining economics and supply risk. Think of it as a fruit bowl with very valuable fruit tucked next to prickly thorns.

xenotime technical

"rich in monazite and xenotime – heavy rare earth minerals typically rich"

Xenotime is a naturally occurring mineral rich in yttrium and heavier rare-earth elements, acting like a concentrated pantry of metals used in high-tech products such as magnets, electronics and lasers. For investors, xenotime matters because its presence in a mine or deposit signals a potential source of valuable rare-earth materials that can drive a project’s worth, but also brings considerations around extraction cost, processing complexity and market demand for those metals.

heavy rare earth technical

"proven to be rich in monazite and xenotime – heavy rare earth minerals"

Heavy rare earths are a subgroup of rare earth elements with higher atomic weights that include metals used to make powerful magnets, specialized electronics, and advanced clean-energy components. Investors care because these metals act like scarce, high-impact ingredients in modern technology: limited deposits, concentrated production, and strong demand can drive volatile prices, influence profit margins for manufacturers, and create strategic supply risks that affect company valuations and national policy.

rare earth concentrate technical

"expected to produce approximately 5,000 tpa of rare earth concentrate rich in"

A rare earth concentrate is the intermediate product from mining where rock has been milled and processed so the valuable rare earth elements are concentrated into a smaller, higher-grade material ready for further chemical separation. Investors care because this concentrate is the main tradable commodity linking mines to refiners: its quantity, quality and price affect mining revenue, supply security for tech and clean-energy manufacturers, and the cost and timing of refined rare earth metals entering the market.

JORC Code regulatory

"Titan is the largest JORC Code mineral resource estimate of rare earth"

The JORC Code is a professional standard for reporting mineral exploration results, mineral resources, and ore reserves so that geological and economic statements about a mining project are transparent and consistent. Think of it as an independent checklist and labeling system that requires qualified experts to document how estimates were made, making company claims verifiable and comparable. Investors use JORC-compliant reports to assess how reliable a mine’s reported size and potential value are before committing funds.

Ore Reserve technical

"This announcement contains information relating to a Mineral Resource Estimate and an Ore Reserve Estimate"

An ore reserve is the portion of a mineral deposit that has been tested and judged to be economically and technically feasible to extract under current conditions, meaning it can be mined profitably. For investors it matters because reserves represent the mineable asset base—like the usable fuel in a tank—and determine a mine’s potential revenue, operational life and risk profile, so changes in reserves can materially affect a company’s value.

forward-looking statements regulatory

"Forward Looking Statements Information included in this release constitutes forward-looking statements."

Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.

payback period financial

"and a 3.6-year after-tax payback period."

The payback period is the amount of time it takes for an investment to return the original amount of money put into it through incoming cash, like the number of months or years until you’ve ‘paid yourself back’ on a purchase. Investors use it to judge how quickly they get their capital back and how much short-term risk or liquidity is involved, but it does not account for how the value of money changes over time or for profits that come after the payback point.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Covia asset acquisition consolidates the Big Sandy Critical Minerals Province in Tennessee, adding mineral rights, at-surface stockpiled pre-processed minerals, pre-stripped horizons and established infrastructure to strengthen IperionX's U.S. minerals-to-metals platform

SOUTH BOSTON, Va., June 15, 2026 (GLOBE NEWSWIRE) -- IperionX Limited (IperionX) (NASDAQ: IPX, ASX: IPX) is pleased to announce it has entered into an agreement to acquire certain key assets associated with Covia Solutions LLC's Camden, Tennessee silica sand operation. Camden is located adjacent to IperionX's Titan Project in Tennessee.

HIGHLIGHTS

• Strategic acquisition adjacent to Titan Project: IperionX to acquire key Camden mineral, mining and infrastructure assets from Covia Solutions LLC (Covia), located adjacent to IperionX's Titan Critical Minerals Project (Titan) in Tennessee, for US$3 million
• Consolidates a U.S. critical minerals province: The Camden assets (Camden) have the potential to be synergistic with Titan by adding feedstock optionality and reduced development complexity
• Established infrastructure advantage: The assets include mineral rights, existing stockpiles, mining and processing equipment, rail spur, approximately 1,400 acres of owned property and approximately 1,400 acres of leased property, with access to established power, water and gas infrastructure
• Potential for heavy rare earth minerals: Camden is located in the McNairy Formation geological system which has been proven to be rich in monazite and xenotime – heavy rare earth minerals typically rich in dysprosium (Dy), terbium (Tb) and yttrium (Y)
• At-surface pre-processed mineral stockpiles: Decades of silica sand operations by Covia have generated significant amounts of pre-processed mineral-bearing stockpiles at Camden
• Pre-stripped development advantage: Additionally, historic mining at Camden focused on the Upper McNairy formation, containing a high-purity silica sand horizon, ‘pre-stripping’ the Lower McNairy potential heavy mineral horizon
• Strengthens U.S. defense and advanced manufacturing supply chains: A combined Titan-Camden platform has the potential to underpin domestic supply chains for heavy rare earths, titanium and zircon - critical inputs for high-temperature magnets, defense, aerospace, semiconductors, robotics and advanced manufacturing
• Near-term technical catalysts: IperionX plans to advance stockpile surveys, drilling, sampling, mineralogical analysis, metallurgical test work, integration and project development studies
  
  

IperionX CEO Taso Arima said:

"This is a strategically important acquisition for IperionX and for the United States. Camden adds pre-processed stockpiled minerals, pre-stripped mineral horizons, mineral rights, processing equipment and infrastructure within the same McNairy critical mineral system that hosts Titan.

By combining Covia's Camden assets with Titan, IperionX is consolidating one of America's most important mineral-sands province, creating exceptional synergies. Our goal is to build a resilient domestic platform that connects Tennessee critical minerals with downstream U.S. titanium metal production and advanced manufacturing in Virginia, while supporting future U.S. rare earth separation, magnet and advanced materials supply chains."

Strategic rationale: four value levers rarely available together

The acquisition strategically consolidates IperionX's position in the Big Sandy Critical Minerals Province and brings together four features that are rarely available in a U.S. critical minerals development setting:

• Province consolidation: Camden and Titan sit within the same McNairy mineral-sand system, unlocking an opportunity to assess the potential for integrated mine planning, infrastructure sharing and development across the Big Sandy Critical Minerals Province
• Stockpile optionality: Decades of silica sand operations have generated at-surface, pre-processed, mineral-bearing stockpiles
• Pre-stripped horizons: Historical operations focused on the Upper McNairy silica sand horizon, creating pre-stripped areas that may provide ready access to the Lower McNairy potential heavy mineral horizons
• Established infrastructure: Camden adds an industrial platform with mining and processing equipment, property, mineral rights, stockpiles, buildings, rail-related infrastructure and access to established utilities
  
  

Together, these features may allow IperionX to evaluate a development pathway that complements Titan, including the potential for feedstock flexibility and reduced development complexity.

McNairy critical mineral formation

For decades, the Camden site operated as a silica sand producer from the McNairy Formation, the same regional critical mineral-sand system that hosts Titan. The McNairy Formation is highly prospective for titanium, zircon and rare earth-bearing minerals, with historic Tennessee Department of Conservation work in the 1970s identifying the widespread presence of monazite and xenotime across the formation. Covia’s historical Camden operations were optimized around silica sand product specifications, and critical mineral recovery was not the operating focus, with the potential mineral-bearing fractions being separated and stockpiled.

Figure 1: Covia asset acquisition in relation to Titan Project.

Stockpiles plus development optionality

Camden provides the potential for two complementary development opportunities for evaluation:

• At-surface, pre-processed mineral stockpiles: The existing stockpiles have already been mined, transported and processed through historical silica sand operations. This may reduce pre-strip requirements and provide a practical potential pathway for near-term technical evaluation
• In-situ Lower McNairy horizons: Historical mining focused on the Upper McNairy silica sand horizon, leaving lower horizons available for potential extraction. At Titan, the Lower McNairy horizon has significantly higher grades, and higher proportions of the valuable critical minerals, including zircon, rutile, and rare earth bearing monazite and xenotime minerals.
  
  

These opportunities have the potential to complement, not replace, the Titan development pathway. IperionX intends to undertake exploration and evaluation of Camden, with the intent of determining the potential to support early-stage feedstock flexibility, infrastructure sharing, modular processing options or staged development sequencing within a broader Titan-Camden critical minerals platform.

Strategic importance to U.S. critical material supply chains

The Camden acquisition strengthens IperionX's position as an integrated U.S. critical minerals-to-metals company. Titan provides a potential domestic upstream mineral feedstock base in Tennessee, while IperionX's Virginia titanium manufacturing platform provides a downstream pathway to U.S.-made titanium metal products and advanced manufactured components.

The potential importance of Camden extends across three critical material streams that are widespread in the McNairy Formation:

• Heavy rare earth-bearing minerals: The U.S. supply challenge is not only rare earth volume, but also secure access to heavy rare earth elements such as dysprosium, terbium and yttrium, which are important for high-temperature magnets, defense systems, semiconductors, advanced ceramics and high-performance materials.
• Titanium minerals: Titanium minerals are strategically important to aerospace, defense, energy, additive manufacturing, automotive and industrial supply chains. IperionX's upstream critical minerals assets are designed to support its downstream U.S. titanium metal technologies and Virginia manufacturing platform.
• Zircon, hafnium and zirconium-linked minerals: Zircon is relevant to ceramics, refractories, foundry applications, nuclear materials, thermal barrier coatings and high-temperature materials systems, including advanced defense and energy applications.
  
  

By combining Titan, Camden and IperionX's downstream U.S. titanium platform, IperionX is seeking to build a resilient domestic supply chain spanning minerals, upgraded feedstocks, metals and manufactured components.

Infrastructure, permitting and execution advantages

Camden is an established industrial site with existing infrastructure and equipment. The assets to be acquired include mining and processing equipment, surface and mineral rights, existing stockpiles, rail-related infrastructure, electrical and water infrastructure equipment, buildings and structures, and associated property and leased property. These assets will be assessed as part of future studies for the potential to reduce development complexity relative to a standalone greenfield project.

Figure 2: IperionX’s position within the Big Sandy Critical Minerals Province.

Titan: a U.S. rare earth and critical minerals backbone with key permits in place

Titan remains the anchor asset of IperionX's Tennessee critical minerals strategy. Titan is a large, near-surface, free-dig mineral sands project located near Camden, with access to power, water, rail, highways and a skilled workforce. Titan is one of the few domestic projects that can underpin a secure, long-term U.S. critical minerals supply chain.

Titan is the largest JORC Code mineral resource estimate of rare earth, titanium and zircon critical mineral sands in the United States, with approximately 10 million metric tons of contained minerals at shallow depths across more than 11,000 acres.

Titan holds all key Tennessee state permits required for development and operations. At full production, Titan is expected to produce approximately 5,000 tpa of rare earth concentrate rich in DyTb, Y and NdPr; approximately 110,000 tpa of titanium minerals that may underpin U.S. titanium metal production using IperionX's patented titanium technologies; and approximately 36,000 tpa of zircon minerals that may support domestic zirconium-based supply chains.

As the United States accelerates investment to rebuild domestic rare earth separation, alloy, magnet and advanced materials and metal supply chains, secure domestic critical minerals feedstocks are increasingly important. A combined Titan-Camden platform may provide an important domestic source of monazite and xenotime-bearing feedstocks, as well as titanium and zircon minerals, from Tennessee.

Improved synergistic position in the Big Sandy Critical Minerals Province

Upon completion of the acquisition, IperionX will improve its already strong position with exceptional synergies along the Big Sandy Critical Minerals Province in Tennessee, a strategic U.S. mineral sands corridor with potential to become a domestic source of titanium minerals, zircon and heavy rare earth-bearing feedstocks. This position is anchored by Titan and strengthened by Camden, which sits adjacent to Titan within the same McNairy Formation mineral-sand system.

Transaction details

Item	Summary
Purchaser	IperionX Critical Minerals LLC.
Seller	Covia Solutions LLC.
Completion conditions	All material conditions have been satisfied, with only standard administrative items remaining to complete the transaction.
Facility	Covia’s silica sand mining operation located at 1700 Sand Mill Road, Camden, Tennessee 38320.
Assets	Mining and processing equipment, surface and mineral rights and existing mineral stockpiles, approximately 1,400 acres of owned property and ~1,400 acres of leased property, electrical and water infrastructure equipment, buildings and other structures on the seller properties.
Purchase price	US$3,000,000 in cash.
Other	IperionX has agreed to assume Covia’s obligation to reclaim certain property which includes re-grading, re-vegetation and stabilizing disturbed land.

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 forecast 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 mineralization, 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.

Compliance Statements

This announcement contains information relating to a Mineral Resource Estimate and an Ore Reserve Estimate for the Titan deposit (where the Mineral Resource Estimate was prepared by Mr. John Eckman, a Competent Person, and the Ore Reserve Estimate was prepared by Mr. Justin Douthat, also a Competent Person) extracted from an ASX market announcement titled “IperionX Titan DFS Confirms High-Return U.S. Rare Earths and Critical Minerals Project” and published on the ASX platform (www.asx.com.au) on 4 June 2026. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the release of 4 June 2026 continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcement.

This announcement contains information relating to the Company's production targets and financial forecasts for the Titan Project extracted from the Company's ASX announcement titled "IperionX Titan DFS Confirms High-Return U.S. Rare Earths and Critical Minerals Project" and published on the ASX platform (www.asx.com.au) on 4 June 2026. The Company confirms that all the material assumptions underpinning the production target and the forecast financial information derived from the production target in the original ASX announcement continue to apply and have not materially changed.

Contacts

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

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/ad9cc0b1-64c8-4c6a-a85a-1009beb69861

https://www.globenewswire.com/NewsRoom/AttachmentNg/3f8b8964-f79d-49ca-b75b-3964b4ac9c54

FAQ

What assets is IperionX (IPX) acquiring from Covia at Camden, Tennessee?

IperionX is acquiring Covia’s Camden silica sand operation assets, including mineral rights, equipment, stockpiles and property. According to IperionX, the package covers mining and processing equipment, existing mineral stockpiles, about 1,400 owned acres, ~1,400 leased acres, and associated infrastructure.

How much is IperionX paying for the Covia Camden assets near the Titan Project?

IperionX agreed to pay US$3,000,000 in cash for the Camden assets. According to IperionX, all material completion conditions are satisfied, with only standard administrative items remaining before the acquisition of the Tennessee silica sand facility and related assets is finalized.

Why is the Camden acquisition strategically important for IperionX (IPX) investors?

The Camden acquisition consolidates IperionX’s position in the Big Sandy Critical Minerals Province. According to IperionX, combining Camden with Titan may enable integrated mine planning, feedstock flexibility, infrastructure sharing and a potential domestic supply chain for rare earths, titanium minerals and zircon.

What rare earth and critical minerals potential does the Camden site offer IperionX?

Camden sits in the McNairy Formation, which hosts monazite and xenotime-bearing heavy rare earth minerals. According to IperionX, these minerals can be rich in dysprosium, terbium and yttrium, complementing Titan’s titanium and zircon mineral sands within an integrated Tennessee critical minerals platform.

How could the Titan-Camden combination impact U.S. critical mineral supply chains?

A combined Titan-Camden platform may support domestic supply chains for heavy rare earths, titanium and zircon. According to IperionX, this integrated minerals-to-metals pathway could serve sectors such as defense, aerospace, semiconductors, high-temperature magnets and advanced manufacturing.

What production metrics are associated with IperionX’s Titan Project in Tennessee?

Titan hosts about 10 million metric tons of contained critical minerals and key permits. According to IperionX, at full production Titan is expected to produce roughly 5,000 tpa rare earth concentrate, 110,000 tpa titanium minerals and 36,000 tpa zircon minerals from near-surface mineral sands.

What obligations does IperionX assume with the Covia Camden acquisition?

IperionX will assume Covia’s obligation to reclaim certain properties at Camden. According to IperionX, the reclamation work includes re-grading, re-vegetation and stabilizing disturbed land, adding environmental responsibilities alongside the acquired mining, processing and infrastructure assets.