Trafigura has entered into a ten-year binding agreement worth more than $2bn (S$2.56bn) with Energy Exploration Technologies (EnergyX) for the purchase of 100,000t of battery-grade lithium products from projects in the US and Chile.
The take-or-pay contract will see Trafigura buy lithium hydroxide from EnergyX’s Project Lonestar in Texas and lithium carbonate from Project Black Giant in Antofagasta, Chile.
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Under the terms outlined by EnergyX, Trafigura will take 66% of the phase one output from Black Giant and 30% from Lonestar.
The company stated that a significant portion of the product from both sites is set to supply the US battery market. This deal represents EnergyX’s first public commercial lithium offtake agreement.
Commercial-scale production is targeted for 2028 at the Chilean project and 2029 at the Texan site.
Trafigura battery metals head Daniel von Arx said: “We are pleased to support EnergyX as it develops its lithium projects in Chile and the US.
“Long-term offtake is an important step in moving projects into production, and this agreement reflects our ability to help bring strategic critical minerals projects online and build secure, diversified supply chains.”
EnergyX utilises its own direct lithium extraction (DLE) technology, already operational at its demonstration plants in the US and Chile. The company describes these as the largest DLE demonstration sites in each country.
The company has received a $690m letter of intent from the US EXIM Bank, in addition to a $225m strategic investment from Eni for the Chilean development.
EnergyX is in discussions with other prospective customers as it plans to secure 80% of first-phase offtake prior to initiating full commercial operations.
Founded in 2018, the company holds more than 150 patents relating to its technology platform.
It is progressing projects in North and South America, including the 52,500t per annum Black Giant project and additional lithium operations in Texas and Arkansas.
In June 2026, Trafigura signed a S$450.64m loan facility agreement to support Develop Global’s two new mining projects in Western Australia.
