EnergyX Signs 10-Year Lithium Deal with Trafigura
EnergyX has entered into a 10-year agreement with Trafigura for the supply of 100,000 tonnes of lithium products, valued at over $2.0 billion at current prices.
EnergyX, a company focused on lithium production and critical mineral supply chains, has signed a binding offtake agreement with global commodity trader Trafigura. The 10-year deal involves the purchase of 100,000 metric tons of battery-grade lithium products, potentially generating over $2.0 billion in revenue for EnergyX at current market prices.
The agreement covers lithium carbonate from EnergyX's Project Black Giant in Chile and lithium hydroxide from its Project Lonestar in Texas. This marks EnergyX's first publicly announced lithium offtake deal, signifying a commercial milestone after years of technology validation and project development. Trafigura will secure a substantial portion of the initial phase offtake from both projects.
EnergyX utilizes its proprietary direct lithium extraction (DLE) and refining technology, GET-Lit™. Founder and CEO Teague Egan highlighted that such agreements are crucial for advancing projects from development to production and are key for securing financing.
Daniel von Arx, Head of Battery Metals at Trafigura, expressed satisfaction in supporting EnergyX's project development and emphasized the agreement's role in building secure and diversified supply chains for the U.S. battery industry.