Anson Locks in LG Energy Solution as Offtake Partner for Paradox Basin Lithium

Anson Resources (ASX: ASN) has signed a major offtake agreement with LG Energy Solution for battery grade lithium carbonate from its flagship Paradox Basin project in Utah, United States. The deal represents a pivotal milestone for Anson as it pushes toward commercial production of lithium to supply North America’s energy transition needs.

The definitive agreement, executed through Anson’s wholly owned subsidiary A1 Lithium, will see LG Energy Solution purchase 4,000 dry metric tonnes per annum of battery grade lithium carbonate from the Paradox Basin operation. This volume represents roughly 40 percent of the proposed start-up capacity of 10,000 tonnes per annum and highlights the strategic value of the asset in the emerging United States supply chain.

The initial term of the agreement is five years, starting in 2028, with the potential to extend for a further five years by mutual consent. Pricing will be set using a formula that references prevailing market prices for battery grade lithium carbonate.

Anson Executive Chairman and CEO Bruce Richardson said the agreement validates the company’s focus on building a domestic United States supply chain for lithium.

“This definitive offtake agreement establishes the foundation for a long-term partnership. LG Energy Solution is a global leader in lithium-ion battery manufacturing and an ideal partner for Anson,” Richardson said. “It also supports our strategy to target companies that have made major investments into the United States electric vehicle and energy storage supply chains.”

The Paradox Basin is considered one of the most prospective lithium brine provinces in North America. Anson, through A1 Lithium, is conducting advanced exploration and pilot testing aimed at unlocking what it believes could become one of the largest lithium resources in the region.

LG Energy Solution’s strong position in North America adds further weight to the deal. The South Korean battery giant operates or is building eight facilities across the United States, including standalone plants in Michigan and Arizona, as well as joint ventures with major automotive manufacturers.

The agreement is subject to customary conditions precedent, including Anson reaching commercial production and LG Energy Solution qualifying the product through its internal specification processes.

Beyond the lithium supply, Anson and LG Energy Solution have also begun discussions around a potential investment by LG into the company. Such an arrangement could further support the final investment decision phase of the Paradox Basin project, where the offtake deal is expected to play a central role in securing debt funding.

Anson’s strategic location in Utah allows it to deliver low cost, United States-made lithium to customers seeking to shorten and localise their battery material supply chains. With final permitting and development work underway, the company is positioning itself as a critical contributor to the rapidly expanding battery and electric vehicle ecosystem across North America.