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.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
