Anson Resources Says Utah Inland Port Authority Approves AU$194 Million Business Incentive

MT Newswires Live08:51

Anson Resources (ASX:ASN) said the Utah Inland Port Authority board approved a business incentive of AU$194 million to support the development of its subsidiary, A1 Lithium, Green River lithium project, according to a Friday Australian bourse filing.

The incentive will be provided to Anson as a tax rebate during the operation of the Green River lithium project over 25 years.

It also provided an alternative arrangement, based upon the incentive amount, to support bonds that can be drawn against to finance "public infrastructure", including utility extensions as well as rail and road upgrades or extensions, to support the development of the project.

The calculation of the business incentive is based upon a projection of additional property tax that the Port Authority expects to receive over the life of the project, over the property tax that is received at the date of signing an agreement with Anson.

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