Anson Resources Limited (ASX: ASN) has confirmed the commencement of the Front End Engineering and Design (FEED) Study at its Paradox Lithium Project in the Paradox Basin, in Utah, USA.
The FEED Study is a pivotal next step in Anson’s plans for the construction of a lithium carbonate processing plant, with a production capacity of a 13,000tpa lithium carbonate equivalent (LCE).
Worley Group Inc. has been appointed to undertake the FEED Study, which will build on the Project’s robust Definitive Feasibility Study (DFS) completed in 2022. The Feed Study is progressing and is expected to be completed in Q4 2023.
Anson has appointed its own engineering team to support Worley in the delivery of the FEED Study. Initially, the Anson and Worley teams will be co-located to maximize the effective delivery of the FEED Study’s work streams.
Anson’s chosen Direct Lithium Extraction (DLE) process, by Sunresin New Materials Co. Ltd (Sunresin), will be incorporated into the design and engineering work, and the FEED team will work closely with Sunresin and its independently appointed design and engineering consultants in the delivery of the FEED Study.
Sunresin is the process package owner and technology provider for the proposed LCE plant at Paradox, processing raw brine into sellable product (considered as Inside Battery Limits, or ISBL), and will be responsible for the design and engineering work to applicable US standards.
Worley will provide the engineering for the supporting infrastructure and utilities for the broader site development (considered outside battery limits, or OSBL).
Anson is in process of developing a suppliers list of components and equipment required for both the ISBL and OSBL aspects of the production plant. It is focused on sourcing as much of the required equipment and components from North America as is possible, in order to maximize the opportunity to secure debt financing from government agencies, Export Credit Agencies and the United States Department of Energy – with whom the company is in frequent consultation.
Financing and Offtake
The company has been working on a financing structure for the total required investment amount for the proposed 13,000tpa lithium carbonate plant since the completion of the DFS. This includes potential off-take partners as well as government agencies.
This work has identified several options for financing which have now been accessed, and the pathway to securing this finance has been determined. This work determined the procurement strategy which focused the scope of work to be conducted in the FEED Study.
For further information please visit: https://www.ansonresources.com/
