EnergyX–Trafigura US$2bn lithium offtake: project and DLE notes for engineers
Reviewed by Joe Ashwell

First reported on MINING.com
30 Second Briefing
Energy Exploration Technologies (EnergyX) has signed a binding 10‑year offtake deal with Trafigura for 100,000 tonnes of battery‑grade lithium products, worth over US$2 billion at current prices of about US$20,000/t. Supply will come from lithium carbonate at the Black Giant project in Chile’s Antofagasta region (planned capacity 52,500 t/y across two phases, Phase 1 targeted 2028) and lithium hydroxide from the Lonestar DLE demonstration plant in the Smackover formation in Texas (250 t/y LCE, Phase 1 commercial 2029). The agreement, backed by Eni’s US$225 million equity and a US EXIM Bank US$690 million debt LOI, provides revenue visibility to finance commercial-scale deployment of EnergyX’s patented GET‑Lit DLE refining platform.
Technical Brief
- Lonestar demonstration plant in Hooks, Texas is rated at 250 t/y lithium carbonate equivalent.
- Lonestar is the first DLE facility in Texas processing locally sourced Smackover brine.
- Smackover formation resource extends from Florida to Texas, providing a large brine footprint for scale-up.
- Black Giant in Chile’s Antofagasta region is funded in part by Eni’s US$225m equity stake.
- U.S. EXIM Bank has issued a US$690m debt financing Letter of Intent for Black Giant.
- EnergyX’s GET-Lit DLE refining platform is protected by more than 150 patents worldwide.
- Lonestar has been operating longer, but Black Giant has more advanced commercial plant engineering completed.
- Target commercial Phase 1 production dates differ: Black Giant 2028, Lonestar 2029, affecting ramp-up sequencing.
Our Take
EnergyX’s GET-Lit DLE platform, backed by more than 150 patents and already being deployed in the Lonestar demonstration plant on the Smackover formation, positions the company closer to a technology provider model seen in its MoU with Compass Minerals than a pure-play project developer, which may influence how future offtakes are structured around technology licensing as well as tonnage.
In our database, EnergyX is one of the few lithium players simultaneously advancing brine (Black Giant in Chile), formation brine (Smackover/Lonestar in Texas) and downstream LFP cathode capacity in Hooks, Texas, suggesting Trafigura’s 10‑year offtake could be used flexibly across multiple feedstock and product streams rather than being tied to a single mine risk profile.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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