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Binding Demonstration Plant Agreement executed with POSCO Holdings for the Green River Lithium Project, Utah, USA
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POSCO to lead the project at its own expense including the design, construction and operation of its proprietary Direct Lithium Extraction (“DLE”) Demonstration Plant.
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POSCO to pay ~AUD $7.2 million (USD $5.2 million) facilitation fee to Anson.
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Demonstration plant designed to validate commercialisation of POSCO’s proprietary DLE technology for Green River Brines.
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During the operation of the demonstration plant operation, the parties will discuss further commercial collaboration.
NEWPORT BEACH, CA / ACCESS Newswire / June 11, 2026 / Anson Resources Limited (ASX:ASN) (“Anson” or the “Company“) is pleased to announce that it has executed a definitive Demonstration Plant Agreement (“Agreement”) with POSCO Holdings Inc. (“POSCO“) 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, USA.
L to R: POSCO Holding Head of the DLE Demonstration Plant Taekyun Lee; Vice President Mr. Song Won Lee; Chief Executive Officer Mr. Lee Ju-Tae; Anson Resources Executive Chairman & Chief Executive Officer Bruce Richardson; Executive Director Tim Murray; and Chief Financial Officer Matthew Beattie signing the definitive agreement at POSCO Holdings Inc. headquarters in Seoul, South Korea.
Anson Resources Executive Chairman & Chief Executive Officer Bruce Richardson and POSCO Holdings Inc. Chief Executive Officer Mr. Lee Ju-Tae signed the definitive agreement at POSCO Holdings Inc. headquarters in Seoul, South Korea.
Following the signing ceremony, Anson CEO Bruce Richardson toured POSCO’s secondary battery complex in Gwangyang.
The signing of the Agreement establishing a framework under which POSCO will operate its own non-commercial DLE demonstration plant designed to validate lithium extraction at continuous industrial scale.
Under the Agreement, POSCO committed to setting up its DLE demo-plant to extract lithium from brines produced from the Bosydaba #1 well owned by Anson at the Green River Lithium 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 AUD ~$7.2 million (USD $5.2 million).
POSCO is expected to commence operation of the demonstration plant in 2027 and complete the work in 2028.
The two companies will continue to explore potential business cooperation opportunities, including joint investment in the Project, during the operation of the demonstration plant, as outlined in the MoU Agreement, see ASX Announcement 30 June 2025.
Strategic Importance
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Demonstrates strong industry validation of Green River’s low-cost lithium potential.
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Accelerates technical de-risking through continuous demonstration-scale testing.
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Positions Green River as a key participant in the emerging U.S. domestic battery materials supply chain.
Executive Commentary
Executive Chairman & CEO Mr. Bruce Richardson commented:
“Securing a definitive agreement with POSCO represents a transformational 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 U.S. lithium supply.”
POSCO Holdings commented:
“With the approval of the terms for a binding agreement, POSCO Holdings will advance validation of DLE technology in the United States and evaluate commercialisation pathways for future lithium production.
“We believe collaboration with Anson Resources at Green River will contribute to strengthening the North American lithium supply chain.”
Key Elements of the Definitive Agreement
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Item |
Key Terms |
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Project |
Non-commercial DLE Demonstration Plant – Green River Lithium Project |
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Responsibility |
POSCO to bear cost for the design, construction, operations and maintenance for Demonstration Plant |
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Facilitation Fee |
USD $5.2M |
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Term |
To December 2028 |
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Brine Supply |
Provided from Bosydaba #1 well with defined performance targets |
About POSCO Holdings
POSCO Holdings Inc. 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 of Anson Resources Limited and POSCO Holdings.
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 Limited
View the original press release on ACCESS Newswire