Anson Resources (ASX:ASN) has signed a non-binding memorandum of understanding with POSCO (KRX:005490) to collaborate on constructing a demonstration plant at the Green River Lithium Project in Utah’s Paradox Basin. POSCO, a South Korean industrial group, is expected to make an investment decision regarding the demonstration plant by December 2025, pending the completion of due diligence and internal reviews. The companies will also explore potential business cooperation opportunities, including joint investment in the project, contingent on a positive Feasibility Study.
Anson Resources is an ASX-listed mineral resources company focused on developing assets into significant lithium producing operations. Green River is owned by Anson Resources’ subsidiary, Blackstone Minerals, and is strategically located to support the growing demand for domestically sourced electric vehicle (EV) battery materials. The demonstration plant is a scaled-up version of a pilot plant designed to validate a new industrial process at a larger scale before full-scale construction.
The demonstration plant will operate continuously, closely resembling the anticipated future commercial plant. It will also generate significant quantities of product. POSCO has been conducting long-term research and development and investment reviews on next-generation lithium resources, such as brine and geothermal brine, for several years.
POSCO is developing a global supply chain to support the transition to EVs 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.
