BUZZ-Australia's Iperionx gains on $47 mln US contract

Reuters

2025/02/17

** Iperionx IPX.AX jumps 6.5% to A$4.4, highest since January 14

** Titanium miner gets contract of up to $47.1 mln from U.S. Department of Defense (DoD) to strengthen U.S. Defense Industrial Base by accelerating development of a U.S. mineral-to-metal titanium supply chain

** About 1.9 mln shares traded vs the 30-day avg of 1.2 mln

** Stock rose as much as 13.6% earlier in the day, marking its biggest intraday gain since September 25, 2024

** IPX down 20% YTD

(Reporting by Adwitiya Srivastava in Bengaluru)

((Adwitiya.Srivastava@thomsonreuters.com))

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