{
  "id": 14015124,
  "title": "EnergyX inks 10-year, $2B lithium offtake deal with Trafigura",
  "url": "https://urgent.news/2026/10/12/energyx-inks-10-year-2b-lithium-offtake-deal-with-trafigura",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-12T17:40:02.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/energyx-inks-10-year-2b-lithium-offtake-deal-with-trafigura/"
  },
  "original_language": "en",
  "account": "EnergyX, an exploration technology company, recently signed a significant lithium offtake agreement with the international commodities trading firm Trafigura. This agreement, which is binding and definitive, will see Trafigura purchasing 100,000 metric tons of battery-grade lithium products over a decade, representing over $2 billion in revenue for EnergyX. The deal encompasses products derived from EnergyX's two flagship projects: lithium carbonate from Black Giant in Chile and lithium hydroxide from Lonestar in Texas.\n\nEnergyX's Lonestar project, a demonstration plant located in the Smackover formation, was commissioned in March. This facility, the first DLE (Direct Lithium Extraction) plant in Texas, will process locally sourced brine and is designed to showcase enhancements in extraction efficiency, recovery rates, and cost competitiveness. Currently, China controls a significant portion of global lithium chemical conversion capacity, which creates a bottleneck in the global battery supply chain. This dependence on foreign processing has left the US without a robust domestic supply chain.\n\nIn July, EnergyX secured a $225 million investment from Eni SpA for a minority stake in the Black Giant project in Chile. Additionally, the company received a $690 million Letter of Intent from the U.S. EXIM Bank for debt financing. A substantial share of the offtake will be directed towards the US battery supply chain. CEO Teague Egan noted that while Black Giant's commercial plant is set to commence production in 2028, Lonestar is projected to begin in 2029. He emphasized that offtake agreements are crucial in transitioning a lithium project from development to production, providing lenders and investors with the necessary revenue visibility before committing capital.\n\nGET-Lit direct lithium DLE refining technology, covered by over 150 patents, will power the production process. This technology has been developed by EnergyX and is seen as a key factor in overcoming the historical limitations that have restricted lithium refining outside China. Trafigura's Head of Battery Metals, Daniel von Arx, expressed satisfaction with the agreement, highlighting its importance in advancing lithium projects to production and fostering secure, diversified supply chains.",
  "summary": "The deal covers lithium products from both Black Giant in Chile project Lonestar in Texas.",
  "key_points": [
    "EnergyX signs $2B, 10-year lithium offtake deal with Trafigura",
    "Agreement covers 100,000 metric tons of battery-grade lithium products",
    "Lonestar project in Texas will process brine for the deal"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}