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IperionX shares increased by 7.5% in early trading, continuing a five-day rally exceeding 15%. This rise follows an order from American Rheinmetall to produce lightweight titanium components for the US Army's heavy ground combat vehicles.

IperionX aims to create a low-carbon titanium supply chain and is developing titanium metal powders for advanced industries. Shaun Weick from Wilson Asset Management noted the potential for further opportunities stemming from this contract and emphasized the importance of IperionX's Titan mine, which he believes is undervalued. He anticipates that realizing the Titan mine's value will be crucial for IperionX's growth.