Anson Resources Eyes US$357.7 Million Utah Incentives to Boost Green River Lithium Project

Utah Proposes Substantial Incentives for Green River Lithium

Anson Resources Limited (ASX:ASN) has received a formal Letter of Advice from the Economic Development Corporation of Utah outlining a potential US$357.7 million incentive package for its Green River Lithium Project. This package, subject to final approval, includes a mix of tax reimbursements, property-tax revenue sharing, and workforce development support designed to improve the project’s economic viability.

The proposed incentives break down into approximately US$127.75 million in post-performance state tax reimbursements over 20 years via the Governor’s Office of Economic Development, and US$229.9 million over 25 years from incremental property-tax revenue allocated by the Utah Inland Port Authority (UIPA) to fund project infrastructure. Additional support includes subsidies covering 40–50% of approved workforce training costs and assistance establishing student and apprenticeship pipelines through state education initiatives.

Potential Impact on Project Economics and Financing

If approved, these incentives could materially reduce the Green River Project’s upfront capital requirements and ongoing tax burdens. The UIPA’s proposed allocation of property-tax revenue toward infrastructure, such as water, sewer, gas, electrical, and rail, could be advanced through bonding arrangements, easing Anson’s capital expenditure. Meanwhile, the tax reimbursements effectively halve the state taxes paid, potentially boosting after-tax cash flows and improving the project’s internal rate of return.

Anson intends to incorporate these incentives into the financial model underpinning its upcoming Definitive Feasibility Study (DFS), expected to assess their influence on long-term competitiveness and funding needs. This aligns with the company’s strategy to pursue financing options that limit shareholder dilution while enhancing returns.

Strong Local Support Highlights Strategic Importance

The Letter of Advice underscores Utah’s strong backing for Green River, recognising its role in strengthening the United States’ domestic critical minerals supply chain. The Economic Development Corporation of Utah highlighted the project’s potential for significant investment, job creation, and technological innovation. The state’s network of over 200 government and industry partners stands ready to support various aspects of project development, from construction and engineering to logistics and staffing.

Executive Chairman and CEO Bruce Richardson emphasised the strategic value of the incentives, noting their potential to reduce capital intensity and tax burdens while reinforcing Anson’s funding approach. He also highlighted ongoing collaboration with Utah authorities and the broader business community as the project advances.

Approval Process and Forward Steps

The incentive package remains subject to detailed assessment and final approval by multiple Utah state and local bodies, with determinations expected by September 2026. The Letter of Advice is non-binding and does not guarantee funding; the final incentive amounts may vary based on investment levels, assessed property values, tax rates, and project progress.

Green River continues to draw significant interest from government, strategic partners, and financial institutions, reflecting its status as one of North America’s most advanced lithium brine developments. Anson’s recent expansion of mineral rights tenure further supports the upcoming resource upgrade and feasibility work, positioning the project for potential commercialisation.