Anson Resources secures $212M tax credit

• Anson Resources secured approval for a $212 million tax credit for its lithium project in Utah.
• The announcement brings total combined government tax incentives for the project to over $406 million.
• The funding aims to support rural economic development and advance project feasibility.

Anson Resources (ASX:ASN) secured approval from the Utah Governor's Office of Economic Development for a post-performance tax credit of approximately $212 million.

The incentive builds on a previous tax rebate from the Utah Inland Port Authority, bringing total approved tax relief for the Green River Lithium Project to US$406.5 million.

"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," said Anson Resources Executive Chairman and CEO Bruce Richardson.

Granted under the Rural Economic Development Tax Increment Financing programme, the 50% tax credit is based on projected state tax revenue of $425 million over 20 years of operations.

Anson Resources stated that it will incorporate the financial impact of the tax reduction into its Green River definitive feasibility study.

Following the announcement the Anson Resources share price was unchanged at $0.047.

The company continues to hold discussions with government representatives regarding additional non-dilutive grant programmes to enhance shareholder returns.

These initiatives focus on advancing development at the Green River site through its wholly-owned subsidiary, A1 Lithium.