Anson Resources Receives $212M Utah Tax Credit for Green River Lithium Project
Anson Resources has been granted a tax credit of approximately $212 million (A$295.38m) by the Utah Governor's Office of Economic Development to support its Green River Lithium Project in the Paradox Basin, US. The project is owned by A1 Lithium, Anson’s fully-owned subsidiary based in the United States. This tax credit was awarded under Utah's Rural Economic Development Tax Increment Financing (REDTIF) programme and represents 50% of projected state tax revenue from the lithium project over a 20-year period. The company plans to create 138 high-paying jobs within the next 25 years as part of this initiative. The credit is in addition to an earlier $94.5 million rebate approved by the Utah Inland Port Authority, bringing total incentives for the project to over $406.5 million. Anson stated that further financial implications will be evaluated during a definitive feasibility study and noted ongoing discussions with state officials about additional support. Anson's CEO Bruce Richardson highlighted strong government backing as critical to the company’s progress in Utah and expressed continued efforts to secure non-dilutive funding from both state and federal authorities.
Topics: economic_development government_incentives lithium mining