Anson Resources (ASX:ASN) and POSCO Holdings (NYSE:PKX) have agreed on terms for a binding agreement to develop a demonstration plant at the Green River Lithium Project in Utah’s Paradox Basin.
The definitive demonstration plant agreement provides for POSCO to set up the plant to extract lithium from brines produced at Anson’s Bobsydaba 1 well within the Green River Project.
POSCO will pay Anson a facilitation fee of around $7.2 million, with the definitive agreement to be signed before the end of Q2 2026.
Operations at the demonstration plant are expected to begin in 2027 and will be completed in 2028.
The two parties intend to continue exploring potential partnership opportunities, including a joint investment in the project during the operation of the demonstration plant.
Anson Resources executed a non-binding memorandum of understanding (MoU) with POSCO in mid-2025 regarding the construction of a demonstration plant at Green River, as previously reported.
Anson CEO Bruce Richardson says the security of a definitive agreement represents a “step forward for the Green River Lithium Project”.
“Moving from a non-binding MoU 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,” Richardson says.
POSCO Holdings says it intends to advance validation of Direct Lithium Extraction (DLE) technology in the United States and evaluate commercialisation pathways for future lithium production, following the approval of the terms for a binding agreement.
“We believe collaboration with Anson Resources at Green River will contribute to strengthening the North American lithium supply chain,” POSCO Holdings says.
As reported by Mining.com.au earlier this week, Anson Resources’ wholly owned subsidiary, A1 Lithium, was admitted as a member of the US Defense Industrial Base Consortium (DIBC).
Admission to the DIBC will provide A1 Lithium enhanced access to US federal agencies — including the Department of Energy and the Department of War — for strategic funding, grant opportunities, government-backed initiatives, and domestic supply chain partnerships.
Anson Resources is a critical minerals explorer focused on developing lithium assets in Australia and the US.
POSCO Holdings is focused on building a ‘new tomorrow’ as a provider of eco-friendly materials for the future.
Write to Maddison Elliott at Mining.com.au
Images: Anson Resources
