POSCO (PKX), Anson Resources Partner for DLE Demonstration Plant in Utah

POSCO Holdings Inc. (NYSE:PKX) is one of the stocks set to explode in the next 2 years. On June 11, Anson Resources Limited signed a definitive Demonstration Plant Agreement with POSCO Holdings to build and operate a Direct Lithium Extraction/DLE facility at the Green River Lithium Project in the Paradox Basin, Utah, USA. POSCO will lead the project at its own expense, taking full responsibility for the design, construction, operation, and maintenance of the facility to validate its proprietary DLE technology on a continuous industrial scale.

As part of the collaboration, POSCO will extract lithium from brines supplied by Anson, utilizing the site's existing infrastructure. In connection with this partnership, POSCO will pay Anson a facilitation fee of approximately $5.2 million. The company plans to begin operating the demonstration plant in 2027, with the project expected to conclude in 2028.

Photo by the blowup on Unsplash

This initiative highlights POSCO Holdings Inc.'s (NYSE:PKX) active role in advancing lithium extraction technology within the US market. While the demonstration plant is non-commercial, the agreement establishes a framework for both parties to discuss further commercial collaboration and potential joint investment opportunities in the Green River project as they work to de-risk the technical process.

POSCO Holdings Inc. (NYSE:PKX) is a South Korean steelmaking and industrial company. It produces and sells steel products such as hot-rolled, cold-rolled, and stainless steel, which are used in automotive, construction, shipbuilding, and machinery industries. The company also operates in energy, chemicals, and materials businesses, including lithium and nickel for batteries.

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