By: ICN Bureau
Last updated : June 14, 2026 8:49 am
The agreement marks a shift from earlier non-binding arrangements to a formal framework for POSCO to design
Anson Resources has moved its Green River Lithium Project into a new phase of execution.
The company has signed a definitive Demonstration Plant Agreement with POSCO Holdings to build and operate a Direct Lithium Extraction (DLE) pilot facility in Utah’s Paradox Basin.
The agreement marks a shift from earlier non-binding arrangements to a formal framework for POSCO to design, construct, and run a non-commercial DLE demonstration plant aimed at validating continuous, industrial-scale lithium extraction from brines sourced at Anson’s Bosydaba #1 well.
The deal was signed in Seoul by Anson Executive Chairman and CEO Bruce Richardson and POSCO Holdings CEO Lee Ju-Tae at POSCO’s headquarters. Following the signing, Richardson toured POSCO’s secondary battery complex in Gwangyang, underscoring the strategic battery supply chain alignment behind the partnership.
Under the agreement, POSCO will take full responsibility for engineering, construction, operation, and maintenance of the facility. Anson will provide access to land, infrastructure, and brine supply from its Green River Lithium Project. In return, POSCO will pay Anson a facilitation fee of approximately AU$ ~$7.2 million (US$5.2 million).
Operations are expected to begin in 2027, with completion targeted for 2028. During this period, both companies will continue evaluating broader collaboration opportunities, including potential joint investment, consistent with their earlier MoU announced on 30 June 2025.
Richardson described the agreement as a pivotal milestone: "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 framed the deal as a critical step in advancing commercialization pathways for DLE technology.
"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."