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Anson Resources Says Economic Development Corporation of Utah Outlines Potential $358 Million Incentives; Shares Up 14%

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Anson Resources (ASX:ASN) received a formal letter of advice from the Economic Development Corporation of Utah outlining proposed state and local incentive programs with an estimated aggregate value of $357.7 million for its Green River lithium project, subject to final assessment and approval, according to a Wednesday Australian bourse filing.

This would include $127.8 million of post-performance state tax reimbursements over 20 years, around $229.9 million over 25 years from the Utah Inland Port Authority's share of incremental property-tax revenue generated within the project area, which may be applied to project infrastructure, as well as a subsidy of around 40% to 50% of approved workforce-training costs.

Final determinations from the relevant Utah authorities are expected in September, the filing said.

The resource exploration company's shares climbed nearly 14% in recent trading on Wednesday.

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