Anson Resources Signs Lithium Supply Agreement with LG Energy Solution
2024年5月1日 - 10:00AM
JCN Newswire
Anson Resources Limited (ASX:ASN) is pleased to announce that it
has completed negotiations with LG Energy Solution (KRX: 373220)
and executed its first binding offtake term sheet to supply
battery-grade lithium carbonate from its project in the Paradox
Basin in southern Utah, USA.
The offtake term sheet calls for Anson to supply up to 4,000 dry
metric tonnes per year of battery-grade lithium carbonate produced
at the Project, which is expected to begin operations in 2027. The
associated volumes represent approximately 40 percent of the
Project's start-up production capacity of 10,000 tonnes per
year.
This cornerstone offtake agreement provides strong market
validation of Anson's project, 100% owned through its wholly owned
US subsidiary, A1 Lithium Inc., and also demonstrates that it can
produce high-quality product while maintaining its strong
commitment to ESG standards. The Company is building a significant
presence in the US market with continued growth through further
investment in developing its Projects in the Paradox Basin.
This development is a significant strategic step for the onshoring
and expansion of the domestic critical minerals supply chain that
is key to li-ion battery manufacturers and hastened by the US
Inflation Reduction Act (IRA). Korean and Japanese companies have
committed to building large battery manufacturing facilities in the
United States and are seeking IRA-compliant lithium to supply those
projects. Anson is proud to be an important strategic partner in
the growing US critical minerals supply chain.
LG Energy Solution is the ideal partner for Anson Resources, with
its diversified customer base and strong investment in expanding
production in North America. LG Energy Solution has eight
facilities currently operating or under construction in North
America, with stand-alone facilities in Michigan and Arizona and
six joint venture facilities with major automakers.
Signing the binding term sheet with LG Energy Solution marks
another key milestone for the Project following majority completion
of all permitting and commissioning of the Company's Sample
Demonstration Plant. The term sheet or subsequent definitive
agreement will become effective subject to A1 Lithium making a
final investment decision and the start of commercial production.
Anson continues to progress negotiations with other potential
global customers.
The Paradox Basin is a globally significant lithium asset, on which
the Company is conducting exploration and test work of the brine
known to exist across multiple zones in the Paradox Basin. This
work is on-going and if successful will support the Company's
theory that the Paradox Basin contains one of the largest lithium
resources in North America.
Based on a definitive feasibility study (DFS) announced on
September 8, 2022, phase one of the Company's Project is forecast
to produce 10,000 tonnes per year of battery-grade lithium
carbonate. The Project also has world-class ESG credentials, thanks
in part to the natural overpressure of the brine, meaning it is
pushed to the surface without the need to pump.
Further, the Company employs the use of cutting-edge lithium
extraction technology which use a fraction of the water needed for
traditional hard rock or evaporation extraction methods.
Anson Resources CEO Bruce Richardson commented:
"Anson has recognized the unstoppable paradigm shift in the
expanding US supply chain for electric vehicle battery materials,
and the key role that Korean and Japanese battery manufacturers are
playing*. The Inflation Reduction Act (IRA) along with other US
policy initiatives have resulted in significant investment in new
battery manufacturing capacity in North America to meet growth in
demand for electric vehicles and the continued momentum toward the
electrification of the economy in the US. This shift in investment
has led to an increased demand for lithium produced in the US, not
only to shorten supply chains geographically but also increase US
content in li-ion batteries and electric vehicles, to meet IRA
incentive requirements. Anson's assets in the Paradox Basin in
southern Utah are strategically positioned to benefit from these
momentous trends. We are delighted to have reached agreement with
LG Energy Solution allowing us to execute our first binding offtake
term sheet for at least 40% of our production. This establishes the
foundation for a long-term partnership and we are proud that we
will be supplying US made lithium from the Paradox Basin to LG
Energy Solution, a respected global leader in the lithium battery
value chain, building out the largest battery manufacturing
capacity in the US."
*Matt Pollard & Tim Buckley, Clean Energy Finance, "A Value
Added Critical Minerals Agreement for Australia and Korea" - June
2023
Contact Details
Media:
Cindy Gubler
Wilkinson Ferrari & Co
Email: cindy@wfandco.com
Cell: +1 801-971-5639
Investors:
William Maze
Anson Resources | A1 Lithium
investors@ansonresources.com
+1 949-508-78234
SOURCE: Anson Resources
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