IperionX (ASX:IPX) said it was progressing its long-term, tax-exempt bond financing through Virginia's Halifax County Industrial Development Authority to secure future titanium production expansions, according to a Wednesday Australian bourse filing.

It said that all major scrap-to-forged titanium manufacturing equipment at the titanium manufacturing campus in Virginia was now online and proven to meet operational capacity.

It completed the commissioning of powder metallurgy and hydrogen sintering and phase transformation forging systems and repeated back-to-back production cycles of the hydrogen-assisted metallothermic reduction furnace.

The definitive feasibility study for the Titan critical minerals project in Tennessee is on track for completion in the second quarter of 2026.

Its shares rose almost 1% in recent trading on Wednesday.