Anson Resources Secures US EXIM Letter of Interest for $330 Million Debt Funding for Utah Lithium Plant

Anson Resources has announced that its U.S. subsidiary, A1 Lithium, has received a non-binding Letter of Interest (LoI) from the Export-Import Bank of the United States (US EXIM) for up to $330 million in debt funding. This funding, if finalized, will be used for the construction of a lithium production plant in Utah as part of the "Make More in America" Initiative.

The LoI represents a key development in Anson's project financing strategy and highlights the company's engagement with the U.S. Government and its industry partners. The Paradox Basin in Southern Utah, where Anson is developing its lithium project, is believed to be one of the largest lithium sources in the U.S. The project will utilize Direct Lithium Extraction (DLE) technology, which is considered to be environmentally friendly and crucial for supporting the growing demand for lithium in electric vehicles and other industries.

Anson's Executive Chairman and CEO, Bruce Richardson, expressed his enthusiasm for the progress, noting the importance of the Paradox Basin project in developing a domestic lithium supply in the U.S. Chief Financial Officer Matthew Beattie emphasized the project's potential to create high-paying jobs and stimulate regional investment.

While the LoI is a significant step, it is not a binding financing commitment. The funding is contingent on successful due diligence, negotiation of final terms, and the completion of definitive agreements. Anson will provide further updates as the process progresses.