Anson, Posco boards approve terms to build demo plant at Utah lithium project
The boards of ASX-listed Anson Resources and South Korean industrial group Posco Holdings have approved the terms for a definitive demonstration plant agreement relating to the construction and operation of a direct lithium extraction (DLE) demonstration facility at the Green River lithium project, in the Paradox basin, Utah, in the US.
Under the terms of the agreement, Posco has committed to set up a DLE demo plant to extract lithium from brines produced from the Bosydaba #1 well at Anson's Green River project.
Posco will be responsible for engineering, construction, operation and maintenance of the facility, while Anson will provide access to property, infrastructure and brine supply. Posco will pay Anson a facilitation fee of A$7.2-million.
Anson and Posco plan to sign a definitive agreement before the end of the second quarter of this year, while Posco plans to start operating the demo plant in 2027.
“Securing a definitive agreement with Posco represents a transformational step forward for the Green River project. Moving from a non-binding memorandum of understanding to a fully executed agreement underscores the strong technical confidence Posco has in our asset and highlights the increasing strategic importance of domestic US lithium supply,” says Anson chairperson and CEO Bruce Richardson.
“With the approval of the terms for a binding agreement, Posco will advance validation of DLE technology in the US and evaluate commercialisation pathways for future lithium production. We believe collaboration with Anson at Green River will contribute to strengthening the North American lithium supply chain,” Posco comments.
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