Anson Resources secures $194M Utah incentive
Full story: https://grafa.com/en/news/australia/anson-resources-secures-194m-utah-incentive
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Anson Resources secured a $193,995,683 business incentive approved by the Utah Inland Port Authority Board.
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Following the announcement, the Anson Resources share price was up at $0.058.
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The funding will support project development for the company’s 100%-owned subsidiary, A1 Lithium.
Anson Resources (ASX:ASN) secured a $194 million business incentive to support the development of its Green River Lithium Project in Utah.
The incentive is calculated as 50% of the projected additional property tax differential over a period of up to 25 years.
The fine print outlines that the project’s planned 10,000-tonne-per-annum lithium carbonate production plant requires a total capital investment of $569 million based on a March 2026 scoping study.
Anson Resources stated that the financial implications of the business incentive will be formally assessed in its upcoming Green River definitive feasibility study.
Following the announcement, the Anson Resources share price was up at $0.058.
The Utah Inland Port Authority also provided an alternative financing structure allowing bonds to be drawn against the incentive amount to fund local public infrastructure like power, water, gas, rail, and road upgrades.
Anson Resources is also awaiting a decision on tax reduction support from the Governor's Office of Economic Development during a board meeting scheduled for Sept. 10.
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