- Anson Resources (ASN) plans to increase production capacity at its Paradox lithium project in Utah
- The company will lift stage one production capacity by 275 per cent to 10,000 tonnes per annum of battery grade lithium carbonate
- The decision was made as Anson expects an increase in the JORC resource at the project, growing demand for lithium, and improved performance in its recoveries
- In addition, ASN is planning to progressively add bromine production capacity at the project in order to meet the forecast growth in demand
- Shares in Anson Resources were up 3.7 per cent to $0.14 as of 10:11 am AEST
Anson Resources (ASN) plans to increase production capacity at its Paradox lithium project in Utah.
The company will lift stage one production capacity under its detailed feasibility study (DFS) by 275 per cent to 10,000 tonnes per annum of battery grade lithium carbonate.
The decision was made as Anson expects an increase in the JORC resource at the project, growing demand for lithium, and improved performance in its recoveries.
Executive Chairman Bruce Richardson said increasing production capacity will allow the company to take advantage of the current booming lithium market.
“The US location of the project means Anson is strategically well-placed to benefit from increasing commitments by US car manufacturers towards electric vehicles and announced investments in developing US based battery manufacturing facilities,” he said.
In addition, ASN is planning to progressively add bromine production capacity at the project in order to meet the forecast growth in demand.
Activities at the project are progressing, with the DFS in advanced stages and a resource expansion program ongoing.
Shares in Anson Resources were up 3.7 per cent to $0.14 as of 10:11 am AEST.