Highlights:
Anson Resources (via its 100% owned subsidiary A1 Lithium) and LG Energy Solution have executed a Definitive Offtake Agreement ("Definitive Offtake Agreement") for the supply of battery grade lithium carbonate from Anson Resources' 100% owned Project within the Paradox Basin.
Subject to the satisfaction of customary conditions precedent (summarised in the annexure), the Initial 5-year term is expected to commence in 2028, with the ability to extend for a further five years.
LG Energy Solution to purchase 4,000 dry metric tonnes per year and specifies the operational and logistical requirements for the delivery of product.
Pricing is determined using a formula-based mechanism referencing market prices for battery-grade Lithium Carbonate.
LG Energy Solution is a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems.
NEWPORT BEACH, CALIFORNIA / ACCESS Newswire / September 23, 2025 / Anson Resources Limited (ASX:ASN) ("Anson Resources" or "the Company") is pleased to announce that it has completed negotiations with LG Energy Solution and on the Definitive Offtake Agreement for the supply of battery-grade Lithium Carbonate from its 100% owned Project within the Paradox Basin in Southern Utah.
The Definitive Offtake Agreement provides for the supply of up to 4,000 dry metric tonnes per annum (tpa) of battery-grade Lithium Carbonate produced at the Project, expected to commence in 2028, representing approximately 40% of the Project start-up production capacity of ~10,000tpa.
LG Energy Solution is an ideal partner for Anson Resources with its diversified customer base of tier one OEMs and energy storage solutions (ESS) and strong investment to expanding production in North America. LG Energy Solution has eight facilities currently operating or under construction in North America, with stand-alone facilities in Michigan and Arizona and five joint venture facilities with major automakers.
Signing of the Definitive Offtake Agreement with LG Energy Solution marks another key milestone for the Company's develops in the Paradox Basin. This Definitive Offtake Agreement will become effective subject to Anson Resources commencement of commercial production in the Paradox Basin and offtake product qualification with LG Energy Solution.
The Paradox Basin is a globally significant lithium asset, which the Company through its 100% owned USA subsidiary A1 Lithium, is working to develop into one of the largest lithium resources in the United States. The Company is conducting exploration and test work of the brine, that is known to exist, across multiple areas in the Paradox formation. This work is on-going and if successful will support the Company's theory that the brines of the Paradox Basin contain one of the largest lithium resources in North America.
This Definitive Offtake Agreement is also an essential part of the critical path for debt funding at the Final Investment Decision stage.
Anson Resources Executive Chairman and Managing Director Bruce Richardson commented:
"Anson is delighted to have concluded our definitive offtake agreement with LG Energy Solution for at least 40% of our production. LG Energy Solution not only has a diversified customer base of tier one OEM's they also have many energy storage solutions (ESS) customers.
Anson recognized the unstoppable paradigm shift in the US supply chain for electric vehicle battery materials and ESS and the key role that Korean battery manufacturers are playing.
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,
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 development work in the Paradox Basin in Southern Utah is strategically positioned.
This definitive offtake agreement establishes the foundation for a long-term partnership and we are proud that we will be supplying low cost US made lithium from the Paradox Basin to LG Energy Solution a leading global manufacturer of lithium-ion batteries for electric vehicles, mobility, IT, and energy storage systems."
About Anson Resources Ltd Anson Resources (ASX:ASN) is an ASX-listed mineral resources company with a portfolio of minerals projects in key demand-driven commodities. Its core asset is the Paradox Lithium Project in Utah, in the USA. Anson is focused on developing the Paradox Project into a significant lithium producing operation. The Company's goal is to create long-term shareholder value through the discovery, acquisition and development of natural resources that meet the demand of tomorrow's new energy and technology markets.
