EnergyX signs ten year lithium offtake with Trafigura

EnergyX has signed a binding ten year offtake agreement for Trafigura to buy 100,000 metric tons of battery grade lithium products, a deal the company values at more than $2 billion at current prices near $20,000 a ton.

Why it matters: A long term purchase commitment from a major trading house gives EnergyX revenue visibility to raise construction finance for direct lithium extraction projects in Chile and Texas, in a supply chain where China holds most conversion capacity.

Data as of Monday, October 12, 2026. Single sourced to Mining.com reporting the company announcement, opened and read in full; the $2 billion value is the company's estimate at current prices, not contracted revenue. Developing item, 2 to 3 sentences by design.

Supply will come from EnergyX’s two flagship projects, lithium carbonate from Black Giant in Chile and lithium hydroxide from Project Lonestar in Hooks, Texas, with a significant share directed to the US battery supply chain. Black Giant targets first commercial production in 2028 and Lonestar in 2029, following Eni’s $225 million minority investment in Black Giant in July and a $690 million US EXIM Bank letter of intent for project debt.

The agreement is a financing milestone rather than production, since both projects remain pre commercial and depend on EnergyX’s direct lithium extraction technology performing at scale. Trafigura said the offtake reflects its push to help bring strategic critical minerals projects online and diversify supply chains.

EnergyX signs ten year lithium offtake with Trafigura

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