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Anson secures water supply in major step towards Paradox lithium development
Special Report: Anson Resources, which delighted investors last year with a major expansion of the resource at its Paradox lithium … Read More
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Anson Resources, which delighted investors last year with a major expansion of the resource at its Paradox lithium project, has taken another step towards its development.
Plans for the construction of the unique project in Utah, utilising wells to tap deep brines previously drilled for oil, are moving fast with Anson (ASX:ASN) securing an agreement for water rights with Green River Companies LLC today.
The sub-lease agreement will meet the needs of a planned 13,000tpa LCE plant at Paradox for an initial term of 23 years, with an option for another 20, which will enable the diversion of water from either the Colorado or Green rivers.
Signed in October last year, the agreement conditions have now been met with approval by the Wayne County Water Conservancy Board and State of Utah and payment of $1 by A1 Lithium Inc.
Anson will be able to apply for additional water rights if there is an increase in its production requirements.
“This is yet another significant step forward on the pathway to production at our planned 13,000tpa LCE plant that the company plans to construct at the Paradox Lithium Project,” Anson executive chairman and CEO Bruce Richardson said.
“Water is an essential part of the lithium production and while the current process flow sheet allows for approximately 80% of the water used to be recycled, additional water needs to be added.
“We are delighted that Anson has been able to successfully negotiate this Agreement with Green River Companies LLC with the support of Wayne County Conservancy District, State of Utah, which further demonstrates the support that the Project continues to receive from the local and State governments.”
Anson announced a 24% increase in lithium resources to over 1Mt of lithium carbonate equivalent at Paradox in November, including 346,109t of LCE and 1.84Mt of bromine in indicated resources.
Inferred resources contain a further 691,800t of LCE and 3.43Mt of bromine.
This article was developed in collaboration with Anson Resources, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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