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 May 2026 front-end planning Stage 1, or FEP-1, scoping study is based on a Phase 1 operation producing 10 000 t/y of lithium carbonate over a 20-year mine 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 the 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 Green River lithium 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
The FEP-1 scoping study estimates a base-case pretax net present value (NPV), at an 8% discount rate, of $1.37-billion and an IRR of 27.5%. The base-case after-tax NPV is estimated at $896-million, with an after-tax internal rate of return of 21.7%. Payback is estimated at 4.44 years.

Capital Expenditure
Upfront capital costs are estimated at $568.47-million.

Planned Start/End Date
First supply of battery-grade lithium carbonate, fully finished on site, is targeted for 2029.Anson has started the definitive feasibility study, which is expected to take about six to seven months to complete. The company then expects to start the front-end engineering design study required for a final investment decision, which is also expected to take about six to seven months. Project construction is estimated to take between 24 and 30 months, although the timeline remains subject to further technical studies, funding, market conditions and board approval.

Latest Developments
None stated.

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.