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Trident Royalties PLC Announces Paradox Lithium LG Offtake & Green River Update - Seite 2
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0 KommentareThe well will be left open to enable the extraction of additional brine for on-going processing at the SDP should that be required. The SDP is fully commissioned and has both the lithium extraction capability as well as downstream purification. The plant is capable of operating 24/7 and producing a high purity lithium carbonate product as samples for potential off-take partners.
Bruce Richardson, Executive Chairman and Managing Director of Anson, commented for the purposes of their announcement1:
"The Inflation Reduction Act and other US policy initiatives have resulted in significant investment in new battery manufacturing in North America to meet the continued growth in demand for electric vehicles in the US. This shift in manufacturing 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 of electric vehicle batteries and electric vehicles, to meet IRA incentive requirements. Anson identified this change, targeted its offtake marketing activities to the companies that have made these investments into North America and in particular, the US where Anson's development work in the Paradox Basin in Southern Utah is strategically positioned. 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."
Adam Davidson, Chief Executive Officer of Trident commented:
"We congratulate the Anson team for achieving this offtake milestone for Paradox. LG is a household name in the battery world. The Paradox offtake, coupled with a potential investment from LG, demonstrates Paradox's tremendous potential as a strategic source of US lithium. We look forward to continued momentum at Paradox as the project moves to a final investment decision.
"Meanwhile, we are pleased to see continued progress at Green River. Green River has, to date, demonstrated similar potential to Paradox and highlights the optionality embedded in this royalty, providing Trident with scope for significant upside to the advanced Paradox Lithium Project."
References
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1: Source: Anson Resources Ltd. news release, 1 May 2024
(https://wcsecure.weblink.com.au/pdf/ASN/02801921.pdf)
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