Name of the Project
Green River lithium project.

Location
Paradox basin of south-eastern Utah, in the US.

Project Owner/s
Critical minerals company Anson Resources, through its wholly owned subsidiary Blackstone Minerals. 

Project Description
The project is being developed as a direct lithium extraction (DLE) brine project to produce battery-grade lithium carbonate.

The engineering scoping study announced on June 16, 2026, is based on a Phase 1 operation producing 10 000 t/y of battery-grade lithium carbonate over a 20-year operating life. 

The process will involve extracting brine from a wellfield and transferring it to a processing plant. The brine will be pretreated using Anson’s proprietary nonchemical iron-removal process, followed by lithium extraction using a commercially proven DLE technology. The eluate will then be polished and further refined to produce battery-grade lithium carbonate.

The updated Joint Ore Reserves Committee-compliant mineral resource estimate comprises 773 000 t of lithium carbonate equivalent (LCE). This includes 183 000 t LCE in the indicated category and 590 000 t LCE in the inferred category, based on drilling results from the Bosydaba #1 and Mt Fuel–Skyline Geyser 1-25 wells.

The project benefits from nearby infrastructure, including the Green River, from which Anson has water rights, Interstate 70, the Union Pacific railway, high-voltage transmission corridors, a natural gas pipeline, town water and sewage infrastructure, and fibre-optic network access.

In May 2026, Anson Resources announced that POSCO Holdings Inc’s board and Anson’s board had approved the terms for a definitive demonstration plant agreement pertaining to the construction and operation of a DLE demonstration facility at the project. Under the agreement, POSCO committed to setting up its DLE demonstration plant to extract lithium from brines produced from the Bosydaba #1 well.

POSCO will be responsible for the engineering, construction, operation and maintenance of the facility, while Anson will provide access to property, infrastructure and brine supply.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
On October 7, 2026, Anson reported an incentive-adjusted base-case pretax net present value (NPV), at an 8% discount rate, of about $1.523-billion and an after-tax NPV of about $1.046-billion. Each one increases by about $150-million from the scoping study model, following the inclusion of potential benefits from two Utah incentive programmes. 

The model retains the underlying lithium price, production and operating-cost assumptions. These are preliminary scoping-study estimates, subject to further evaluation and incentive conditions. 

The original scoping study pretax internal rate of return (IRR) of 27.5% and after-tax IRR of 21.7% are retained as historical study results.

The original scoping study payback estimate of 4.44 years remains the same.

Capital Expenditure
Upfront capital costs are estimated at $568.47-million before any assumed Utah Inland Port Authority- (UIPA-) supported infrastructure contribution and excluding certain costs identified in the scoping study. The incentives do not reduce the estimated construction cost. 

Planned Start/End Date
First supply of battery-grade lithium carbonate, fully finished on site, is targeted for 2029.

The definitive feasibility study is in progress. Anson plans to use a future resource update as an input to the study and to advance project funding in 2027. 

Latest Developments
On October 19, 2026, Anson announced an application for subsurface mineral rights beneath Green River State Park, covering 0.46 km². The area adjoins recently granted Utah Forestry, Fire and State Lands leases and would increase the project area by 0.53%. If granted, the ground will be included in a future independent resource review.

Anson is also discussing with Utah Inland Port Authority (UIPA) the potential use of a tax incentive to support third-party bonds for eligible public infrastructure. The approved UIPA incentive is capped at about $194-million up to 25 years, while a separate post-performance refundable state tax credit has a nominal maximum of about $212-million over 20 years. Receipt depends on qualifying investment, taxes, employment, continued operations and definitive agreements. 

Key Contracts, Suppliers and Consultants
Burns & McDonnell (FEP-1 scoping study); Apex (resource estimate); and Benchmark Minerals (lithium pricing data used in FEP-1 study).

Contact Details for Project Information
Anson Resources, tel +61 7 3132 7990 or email Info@AnsonResources.com.