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Anson Receives $212 Million Additional 'Tax Credit' From Utah Governor's Office of Economic Development for Green River Lithium Project
Anson Receives $212 Million Additional 'Tax Credit' From Utah Governor's Office of Economic Development for Green River Lithium Project
Highlights
- Utah Governor's Office of Economic Development (GOED) has approved a tax credit to Anson of approximately $212 million for the Green River Lithium Project,
- Based on projected Utah State tax revenue over 20 years of operation of approximately $425 million,
- The tax credit of 50% has been granted to Anson under the Rural Economic Tax Increment Financing (REDTIF) program and is awarded post-performance,
The financial implication of the tax reduction will be accessed in the Green River Definitive Feasibility Study.
LAS VEGAS, NV / ACCESS Newswire / September 10, 2026 / Anson Resources Limited (ASX:ASN) ("Anson" or the "Company") is pleased to advise that the Governor's Office of Economic Development (GOED) Board has approved a post-performance tax credit of approximately $212 million to support the development of its 100% owned USA subsidiary, A1 Lithium Inc., Green River Lithium Project, Utah, USA. This approval is one of the incentive programs that the Company has been discussing with the Government of Utah, see ASX Announcement 5 August 2026 and is addition to the tax rebate from the Utah Inland Port Authority (UIPA), see ASX Announcement 3 September 2026. The total of the two tax rebates is US$406,514,271 (A$569,119,979).
The calculation of the tax credit is based upon a projection of incremental taxes that the State of Utah expects to receive 20 years. This was calculated by the State to be approximately $425 million. The Corporate incentive is part of the state's Rural Economic Development Tax Increment Financing (REDTIF) program. The REDTIF program offers a post-performance, refundable tax credit rebate and is aimed at encouraging businesses to develop operations in smaller communities and can provide up to 50% of the incremental taxes. Projects in Green River, Utah qualifies under the REDTIF program.
Anson is continuing discussions with GOED about other incentive programs that are also expected to have an impact on the financial returns to its shareholders and will continue to update the market as those discussions come to conclusion.
Anson's Executive Chairman and CEO, Mr Bruce Richardson commented, "The tax credit that has been approved by the GOED Board is yet another indication of the strong support that Anson has received from the Government of Utah a relationship that the Company has been developing over several years. The Company appreciates this support and is continuing to work with both the State and Federal government representatives on other grants and incentive programs that do not dilute the Company's shareholders while adding value to the project."
For more information about the GOED tax incentive, see link: https://business.utah.gov/tax-credits/a1-lithium-inc-announces-major-investment-in-emery-county/.
For further information please contact:
| Bruce Richardson | Will Maze |
| Executive Chairman and CEO | Head of Investor Relations |
| E: [email protected] | E: [email protected] |
| Ph: +61 7 3132 7990 | Ph: +61 7 3132 7990 |
This announcement has been authorised for release to the ASX by Bruce Richardson, Executive Chairman and Chief Executive Officer of Anson Resources Limited.
SOURCE: Anson Resources
View the original press release on ACCESS Newswire
(L.Thomas--TAG)
