2 obscure ASX battery mineral shares to buy right now: experts

Lithium's not the only game in town. Here's a pair of booming companies producing copper and titanium that you've not heard of.

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Sure, lithium has been all the rage among stock investors in recent times.

But batteries will tell you they contain many more ingredients than just one element.

Titanium and copper are two minerals that aren't mentioned as much as lithium, but are just as critical for the production of many batteries.

And of course, batteries are critical for many countries' move towards zero-carbon emissions, as they allow clean electricity to be stored and used only when necessary.

This week a pair of experts named two ASX shares to buy that represent businesses producing those metals:

Reducing the cost and carbon footprint of producing titanium

Iperionx Ltd (ASX: IPX) is not a household name among investors, but BW Equities equities salesperson Tom Bleakley rates it as a buy at the moment.

The company is different from the typical resources extraction business.

"IperionX recycles titanium from scrap material," Bleakley told The Bull.

"This reduces the cost and carbon footprint compared to traditional manufacturing processes."

The share price is down about 34% since April last year.

IperionX has its headquarters in Charlotte, North Carolina and does its manufacturing in the US, according to Bleakley.

"Titanium is a critical metal used in numerous military and consumer applications," he said.

"IperionX recently announced it would be producing parts for the US Navy."

$12 million to bring project to fruition

Caravel Minerals Ltd (ASX: CVV) is another business not seen often on investment memos.

Its shares are a buy though, according to Seneca investment advisor Tony Langford.

"Caravel is a Western Australian-based copper explorer and development company," he said.

"The company has recently appointed an experienced chief executive and has raised $12 million to progress a definitive feasibility study."

The Caravel share price is down about 28% over the past 12 months.

But Langford is upbeat about the project's prospects after the feasibility study.

"Construction is expected to start in 2024, with first production planned for 2026," he said.

"Caravel offers exposure to patient investors who are confident about the outlook for this essential metal."

Motley Fool contributor Tony Yoo has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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