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Highlights
- Utah Governor's Office of Economic Development (GOED) has approved a tax credit to Anson of approximately $212 million for the Green River Lithium Project,
- Based on projected Utah State tax revenue over 20 years of operation of approximately $425 million,
- The tax credit of 50% has been granted to Anson under the Rural Economic Tax Increment Financing (REDTIF) program and is awarded post-performance,
The financial implication of the tax reduction will be accessed in the Green River Definitive Feasibility Study.
Binding Demonstration Plant Agreement executed with POSCO Holdings for the Green River Lithium Project, Utah, USA
POSCO to lead the project at its own expense including the design, construction and operation of its proprietary Direct Lithium Extraction ("DLE") Demonstration Plant.
POSCO to pay ~AUD $7.2 million (USD $5.2 million) facilitation fee to Anson.
Demonstration plant designed to validate commercialisation of POSCO's proprietary DLE technology for Green River Brines.
During the operation of the demonstration plant operation, the parties will discuss further commercial collaboration.
Highlights:
First Quartile Cost Positioning
Study delivered low operating cost leadership, C1 OPEX estimate US$3,837/t LCE
Capital Cost/ton comparatively low, installed capacity estimate USD56,800/t LCE
Positions Green River in the lowest quartile of the global peer OPEX comparison
Multiple Cost Advantages
Brine reservoir pressure at 4,500 -5,500psi, reducing operating costs
Proprietary chemical-free iron removal, reducing operating costs
High-quality brine chemistry, low impurity levels, reducing operating costs
Existing nearby utility infrastructure, including power, water, rail, road and gas, reducing capital costs
Optimized Technology Selection Process
Multiple DLE technologies evaluated on financial returns, recovery and scalability basis
Clear Pathway to Development
Material Project De-Risking, permitting and approvals largely complete
Definitive Feasibility Study commenced, project advancing toward Final Investment Decision (FID)
Anson Resources and POSCO Holdings have received board approval for a binding agreement to develop POSCO's Direct Lithium Extraction ("DLE") Demonstration Plant at the Green River Lithium Project in Utah.
POSCO to lead the project at its own expense including the design, construction and operation of its proprietary Direct Lithium Extraction ("DLE") Demonstration Plant
POSCO to pay ~AUD $7.2 million (USD $5.2 million) non-dilutive facilitation fee to Anson.
The collaboration positions Green River as a potential cornerstone asset in the emerging U.S. critical minerals and battery supply chain.
During operation of the demonstration plant, the parties will evaluate broader commercial opportunities, including potential future joint investment and strategic cooperation.
Green River Lithium Project JORC Resource estimate increased by 650%
Indicated Resource - 183,000 t of lithium carbonate (863% increase),
Inferred Resource - 590,000 t of lithium carbonate (602% increase),
The interpreted Mineral Resource estimate based on the Mississippian Unit only
Potential to further increase as the Unit has not been completely drilled thorough,
Upgrade is due to new drilling data and additional area resulting in higher confidence level in the stratigraphic thickness and lithium concentration,
Scope to increase Indicated and Inferred Mineral Resource, with granting of additional claims.
Highlights:
Yellow Cat uranium and vanadium exploration drilling program to commence;
The program aims to confirm the mineralization extends for 4,500m between known Uranium and Vanadium historical workings;
Sampling has yielded values up to 10.33% U3O8 and 25.6% V2O5;
Drilling contractor selected and program to commence in early March.
Highlights:
Anson and POSCO have made strong technical and commercial progress on cooperation at the Green River DLE Demonstration Plant, with workstreams advancing positively across all review areas.
Cooperation between the parties has strengthened through detailed engineering assessments and senior-level engagement, supporting POSCO's ongoing evaluation of the project.
POSCO advises that completion of its due diligence and internal approval process is now expected in Q1 2026, providing a clear timeline for the next stage of the proposed investment.
Highlights:
Anson Resources (via its 100% owned subsidiary A1 Lithium) and LG Energy Solution have executed a Definitive Offtake Agreement ("Definitive Offtake Agreement") for the supply of battery grade lithium carbonate from Anson Resources' 100% owned Project within the Paradox Basin.
Subject to the satisfaction of customary conditions precedent (summarised in the annexure), the Initial 5-year term is expected to commence in 2028, with the ability to extend for a further five years.
LG Energy Solution to purchase 4,000 dry metric tonnes per year and specifies the operational and logistical requirements for the delivery of product.
Pricing is determined using a formula-based mechanism referencing market prices for battery-grade Lithium Carbonate.
LG Energy Solution is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems.
Anson Resources and POSCO Holdings have signed a non-binding MoU to develop a DLE Demonstration Plant at Green River Lithium Project
Anson Resources and POSCO Holdings have signed a non-binding MoU to develop a large scale DLE Demonstration Plant at Green River.
POSCO Holdings plans to construct a Demonstration Plant to test DLE technology and has initiated a review of Anson's Green River Lithium Project.
POSCO Holdings plans to fully fund the plant, invest in all required infrastructure and operating costs, including a site lease fee, for the scaled demonstration testing.
Key Findings:
KOCH DLE Process achieves an average lithium recovery rate of 98%
Key brine contaminants average rejection greater than 99%, resulting in low purification production costs
Industry leading Lithium Chloride concentration attained
Li:TDS ratio of up to 0.129, averaging 0.126, significantly above the target Li:TDS of 0.08, expected to lower the cost with less evaporation during the EV battery grade purification process
43,500 gallons (165,000 litres) of high purity lithium chloride was produced that meet or exceeded the specifications required by downstream processors
Highlights:
A non-binding Letter of Interest received from the US EXIM Bank for up to US$330M in long term debt financing for the construction of a lithium production plant at the Paradox Basin in Utah, USA.
US EXIM is the official export credit agency of the US Federal Government, whose objectives include strengthening America’s Supply Chains through it’s “Make More in America” Initiative.
Anson continues to advance development of its globally significant lithium projects located in the Paradox Basin, Utah.
Final approval from State of Utah, Department of Natural Resources, Division of Water Rights,
First State of Utah approval related to large scale lithium production at Green River,
The approval process confirms the water resources and surrounding areas will not be negatively affected by brine extraction.