Latest news with #AnsonResources
Korea Herald
2 days ago
- Business
- Korea Herald
Posco pursues ‘direct lithium extraction' in North America for 1st time
Posco Holdings announced on Monday plans to test the viability of directly extracting lithium — a key material for electric vehicle batteries — highlighting the significance of establishing a supply chain in North America amid the ongoing pressure of decoupling from China. In partnership with Anson Resources, Australia's natural resource developer, Posco will start the construction of a demonstration plant next year in Green River City, Utah. The facility will evaluate whether Posco's Direct Lithium Extraction technology is feasible for large-scale commercial production. Unlike traditional lithium extraction methods that depend on the natural evaporation of brine in large ponds, DLE is a cost-effective, innovative process designed to selectively extract lithium from low-concentration brine lakes. The project marks the first time a South Korean company has taken steps toward directly producing lithium in North America. In contrast, Posco's domestic rivals, including LG Chem, have primarily secured supply agreements with US-based lithium producers rather than pursuing local production. Earlier Monday, the two companies signed a memorandum of understanding under which Anson Resources will provide the raw materials for lithium and the construction site, where it holds mining rights for lithium brine. While the additional details of the project, including its timeline and investment volume, remain undisclosed, Posco stated: 'By successfully operating the demonstration plant in the US, we aim to commercialize the DLE technology we have developed since 2016. The company intends to leverage this technology for investment and commercialization of undeveloped lithium brine lakes across North America.' According to World Population Review, the US ranked third in the world for lithium deposits in 2023, behind Bolivia and Argentina. This initiative is in line with the company's focus to secure additional lithium resources outside China, which dominates the global lithium hydroxide market, under Posco Holdings CEO Chang In-hwa's '2 Core + New Engine' strategy, referring to focusing on its core steel and battery materials businesses, while also developing new growth engines. Meanwhile, Posco Holdings has secured an annual production capacity of 68,000 metric tons of lithium hydroxide, enough to manufacture batteries for approximately 1.6 million EVs. This includes 25,000 tons from its brine lithium plant in Argentina and 43,000 tons from its ore lithium plant in the Yulchon Industrial Complex in South Jeolla Province.
Herald Sun
3 days ago
- Business
- Herald Sun
Break it Down: Anson and POSCO team up for US direct lithium extraction plant
Don't miss out on the headlines from Stockhead. Followed categories will be added to My News. Stockhead's Break it Down brings you today's leading market news in under 90 seconds. In this episode, host Tylah Tully investigates Anson Resources (ASX:ASN) and its MoU with Korean battery maker POSCO to develop a direct lithium extraction demonstration plant at the Green River project in Utah. Watch the video to learn more. While Anson Resources is a Stockhead advertiser, it did not sponsor this content. Originally published as Break it Down: Anson and POSCO team up for US direct lithium extraction plant Stockhead GTI Energy has raised $4.5 million to fund resource expansion and infill drilling at its Lo Herma Uranium project in Wyoming. Stockhead Tetratherix today has listed at a solid premium to its IPO price, raising the hopes of other life science outfits eyeing an ASX debut.
Korea Herald
3 days ago
- Business
- Korea Herald
Posco pursues ‘direct lithium production' in North America for 1st time
Posco Holdings announced on Monday plans to test the viability of directly producing lithium — a key material for electric vehicle batteries — highlighting the significance of establishing a supply chain in North America amid the ongoing pressure of decoupling from China. In partnership with Anson Resources, Australia's natural resource developer, Posco will start the construction of a demonstration plant next year in Green River City, Utah. The facility will evaluate whether Posco's Direct Lithium Extraction technology is feasible for large-scale commercial production. Unlike traditional lithium extraction methods that depend on the natural evaporation of brine in large ponds, DLE is a cost-effective, innovative process designed to selectively extract lithium from low-concentration brine lakes. The project marks the first time a South Korean company has taken steps toward directly producing lithium in North America. In contrast, Posco's domestic rivals, including LG Chem, have primarily secured supply agreements with US-based lithium producers rather than pursuing local production. Earlier Monday, the two companies signed a memorandum of understanding under which Anson Resources will provide the raw materials for lithium and the construction site, where it holds mining rights for lithium brine. While the additional details of the project, including its timeline and investment volume, remain undisclosed, Posco stated: 'By successfully operating the demonstration plant in the US, we aim to commercialize the DLE technology we have developed since 2016. The company intends to leverage this technology for investment and commercialization of undeveloped lithium brine lakes across North America.' According to World Population Review, the US ranked third in the world for lithium deposits in 2023, behind Bolivia and Argentina. This initiative is in line with the company's focus to secure additional lithium resources outside China, which dominates the global lithium hydroxide market, under Posco Holdings CEO Chang In-hwa's '2 Core + New Engine' strategy, referring to focusing on its core steel and battery materials businesses, while also developing new growth engines. Meanwhile, Posco Holdings has secured an annual production capacity of 68,000 metric tons of lithium hydroxide, enough to manufacture batteries for approximately 1.6 million EVs. This includes 25,000 tons from its brine lithium plant in Argentina and 43,000 tons from its ore lithium plant in the Yulchon Industrial Complex in South Jeolla Province.
News.com.au
3 days ago
- Business
- News.com.au
Break it Down: Anson and POSCO team up for US direct lithium extraction plant
Anson Resources has paired up with a Korean battery maker to develop a DLE demonstration plant at the Green River project in Utah.
Associated Press
3 days ago
- Business
- Associated Press
ASN: Anson Signs MoU with POSCO Holdings for DLE Demonstration Plant Development at Green River
Anson Resources and POSCO Holdings have signed a non-binding MoU to develop a DLE Demonstration Plant at Green River Lithium Project NEWPORT BEACH, CA / ACCESS Newswire / June 29, 2025 / Anson Resources Limited (ASX:ASN) ('Anson' or the 'Company') is pleased to announce that it has executed a non-binding Memorandum of Understanding ('MoU') with POSCO Holdings Inc. (KRX: 005490, NYSE: PKX) to collaborate on the construction of a demonstration plant at the Green River Lithium Project ('Project') in the Paradox Basin, southern Utah, USA. The parties will also explore future partnership opportunities at the Project. POSCO Holdings will make an investment decision on the demonstration plant at the Green River Lithium Project through the finalisation of its due diligence and internal review, expected to be completed by December 2025. The two companies will also explore potential business cooperation opportunities, including joint investment in the Project, contingent on positive feasibility outcomes. The Green River Lithium Project, owned by Anson Resources's subsidiary, Blackstone Minerals NV LLC, offers compelling advantages, including low forecast production costs, ready access to existing infrastructure and a skilled local workforce. The Project sits in a strategic location within the United States to support the growing demand for domestically sourced EV battery materials. POSCO Holdings has been conducting long-term R&D and investment reviews on next-generation lithium resources such as brine and geothermal brine for several years, utilising its comprehensive experience in lithium extraction and operational know-how, paired with its deep experience in chemicals trading and distribution. The demonstration plant is a scaled-up version of a pilot plant designed to validate a new industrial process at a larger, commercially relevant scale before full-scale construction. The Demonstration Plant will operate on a continuous process basis to closely resemble that of the anticipated future commercial plant as well as generating significant quantities of product. Executive Commentary Executive Chairman & CEO, Mr. Bruce Richardson commented: 'This MoU agreement with POSCO Holdings represents another significant milestone in our commercialisation strategy and underscores the progress Anson has made in de-risking the Green River Lithium Project. The Project's ongoing progress continues to attract additional top-tier partners who are contributing to the establishment of Green River as a globally attractive asset. POSCO Holdings is a world-class chemicals producer with deep operational experience, and their interest further validates the quality and strategic potential of the Project. As the global supply chain for lithium shifts toward secure, domestic sources, Anson is uniquely positioned to support this demand from within the U.S., offering low-cost, high-purity lithium production. With forecast-leading production costs, strong local infrastructure, and a highly skilled workforce, the Green River Lithium Project is emerging as one of North America's most compelling lithium development opportunities.' POSCO Holdings spokesperson commented: 'This collaboration with Anson Resources represents a strategic opportunity for POSCO Holdings to strengthen our position in the North American lithium market. Through collaboration on the Green River Lithium project, we will verify the commercialization potential of DLE technology and its business feasibility in the United States. We believe our operational know-how, commercial expertise, combined with Anson's high-quality asset, can create significant value for both companies and contribute meaningfully to the US supply chain and manufacturing.' About POSCO Holdings POSCO Holdings Inc. (KRX: 005490) 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 and POSCO Holdings. About Anson Resources Ltd Anson Resources (ASX: ASN) is an ASX-listed mineral resources company with a portfolio of minerals projects in key demand-driven commodities. Its core assets are the Green River and Paradox Lithium Project in Utah, in the USA. Anson is focused on developing these assets into a significant lithium producing operations. The Company's goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow's new energy and technology markets. For further information please contact: Bruce Richardson Executive Chairman and CEO E: [email protected] Ph: +61 7 3132 7990 Will Maze Head of Investor Relations E: [email protected] Ph: +61 7 3132 7990 SOURCE: Anson Resources press release
