POSCO Holdings Inc. and Anson Resources Limited have formalized an agreement to construct and operate a Direct Lithium Extraction (DLE) facility. This cutting-edge plant will be situated at the Green River Lithium Project within Utah's Paradox Basin. Under the terms of this partnership, POSCO will take full responsibility for the entire project lifecycle, from design and construction to ongoing operation and maintenance. The primary objective is to rigorously test and validate POSCO's proprietary DLE technology on an industrial scale, ensuring its continuous functionality and efficiency in lithium extraction.
As part of this significant collaboration, POSCO will process lithium from brines supplied by Anson, leveraging the existing infrastructure at the site. To facilitate this venture, POSCO will provide Anson with a payment of approximately $5.2 million. The companies anticipate commencing operations at the demonstration plant in 2027, with the project slated for completion in 2028. While this initial plant is non-commercial, the agreement establishes a robust framework for both entities to explore further commercial cooperation and potential joint investment opportunities within the Green River project, thereby mitigating technical risks and paving the way for future advancements in lithium extraction.
This strategic alliance underscores POSCO Holdings Inc.'s commitment to innovation in lithium extraction technology and its growing presence in the US market. POSCO, a prominent South Korean steelmaking and industrial conglomerate, is renowned for its diverse portfolio, which includes the production of steel products vital for the automotive, construction, shipbuilding, and machinery sectors. Furthermore, the company is actively involved in energy, chemicals, and materials, particularly in the production of lithium and nickel for battery manufacturing. This partnership with Anson Resources is a testament to POSCO's forward-thinking approach, aiming to enhance sustainable resource utilization and bolster the global supply chain for critical materials, ultimately contributing to industrial progress and technological innovation.