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.
Anson Resources Limited (ASX:ASN) (Anson or the Company) is pleased to announce that it has executed a non-binding Memorandum of Understanding (MoU) with POSCO Holdings Inc. (KRX: 005490, NYSE: PKX) to collaborate on the construction of a demonstration plant at the Green River Lithium Project (“Project“) in the Paradox Basin, southern Utah, USA. The parties will also explore future partnership opportunities at the Project.
POSCO Holdings will make an investment decision on the demonstration plant at the Green River Lithium Project through the finalisation of its due diligence and internal review, expected to be completed by December 2025.
The two companies will also explore potential business cooperation opportunities, including joint investment in the Project, contingent on positive feasibility outcomes.
The Green River Lithium Project, owned by Anson Resources’s subsidiary, Blackstone Minerals NV LLC, offers compelling advantages, including low forecast production costs, ready access to existing infrastructure and a skilled local workforce. The Project sits in a strategic location within the United States to support the growing demand for domestically sourced EV battery materials.
POSCO Holdings has been conducting long-term R&D and investment reviews on next-generation lithium resources such as brine and geothermal brine for several years, utilising its comprehensive experience in lithium extraction and operational know-how, paired with its deep experience in chemicals trading and distribution.
The demonstration plant is a scaled-up version of a pilot plant designed to validate a new industrial process at a larger, commercially relevant scale before full-scale construction. The Demonstration Plant will operate on a continuous process basis to closely resemble that of the anticipated future commercial plant as well as generating significant quantities of product.
Executive Commentary
Executive Chairman & CEO, Mr. Bruce Richardson commented:
“This MoU agreement with POSCO Holdings represents another significant milestone in our commercialisation strategy and underscores the progress Anson has made in de-risking the Green River Lithium Project. The Project’s ongoing progress continues to attract additional top-tier partners who are contributing to the establishment of Green River as a globally attractive asset.
POSCO Holdings is a world-class chemicals producer with deep operational experience, and their interest further validates the quality and strategic potential of the Project.
As the global supply chain for lithium shifts toward secure, domestic sources, Anson is uniquely positioned to support this demand from within the U.S., offering low-cost, high-purity lithium production.
With forecast-leading production costs, strong local infrastructure, and a highly skilled workforce, the Green River Lithium Project is emerging as one of North America’s most compelling lithium development opportunities.”
POSCO Holdings spokesperson commented:
“This collaboration with Anson Resources represents a strategic opportunity for POSCO Holdings to strengthen our position in the North American lithium market. Through collaboration on the Green River Lithium project, we will verify the commercialization potential of DLE technology and its business feasibility in the United States. We believe our operational know-how, commercial expertise, combined with Anson’s high-quality asset, can create significant value for both companies and contribute meaningfully to the US supply chain and manufacturing.”
About POSCO Holdings
POSCO Holdings Inc. (KRX: 005490) is a leading South Korean industrial group with strategic investments across steel, energy, and battery materials. POSCO Group is developing a global supply chain to support the transition EV and has invested in a total of 93,000 tonnes of lithium production annually in Argentina and South Korea. The company has made significant investments in both brine and hard-rock lithium resources across South America and Australia and is advancing proprietary Direct Lithium Extraction (DLE) technologies to accelerate low-carbon lithium production.
This announcement has been authorized for release by the Executive Chairman and POSCO Holdings.
About Anson Resources Ltd
Anson Resources (ASX: ASN) is an ASX-listed mineral resources company with a portfolio of minerals projects in key demand-driven commodities. Its core assets are the Green River and Paradox Lithium Project in Utah, in the USA. Anson is focused on developing these assets into a significant lithium producing operations. The Company’s goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow’s new energy and technology markets.
For further information please contact:
Bruce Richardson
Executive Chairman and CEO
E: info@Ansonresources.com
Ph: +61 7 3132 7990
Will Maze
Head of Investor Relations
E: investors@Ansonresources.com
Ph: +61 7 3132 7990
SOURCE: Anson Resources