EnergyX signs $2 billion lithium offtake deal with Trafigura

EnergyX has entered into a 10-year offtake agreement with commodities multinational Trafigura for 100,000 tonnes of battery-grade lithium. The deal is valued at more than $2 billion in revenue for EnergyX projects.

The agreement covers lithium carbonate from Project Black Giant in Chile and lithium hydroxide from Project Lonestar in Texas. Trafigura will secure 66% of the phase one offtake from the Chilean project and 30% from the Texas project. This commitment is intended to support EnergyX’s financing efforts, including a $690 million letter of intent from the US Export-Import Bank.

EnergyX utilizes proprietary direct lithium extraction (DLE) and refining technology. The company aims to reach 80% offtake as it moves toward commercial-scale production in 2028.