EnergyX adds Eni to the Black Giant lithium project in Chile
EnergyX has added Eni as a strategic partner to accelerate the development of the Black Giant project , located in northern Chile near the Punta Negra Salt Flat. The Italian energy company will acquire a 25% stake in Black Giant SpA through a total investment of US$225 million, to be executed in several phases. The transaction strengthens both companies' presence in the critical minerals market and expands their participation in the supply chain of raw materials for lithium batteries .
Eni acquires stake and access to lithium from Black Giant
Under the terms announced by the companies, Eni will obtain a seat on the Board of Directors of Black Giant SpA and the option to acquire up to 25% of the total lithium carbonate equivalent (LCE) production. This supply will be used to support the development of its stationary battery gigafactory, which the company is building in Brindisi, Italy.
Furthermore, the Italian company will contribute technical knowledge and operational experience to support the execution of the project and accelerate its commercial development, leveraging its track record in exploration and production of energy resources.
Black Giant will use direct lithium extraction
The lithium project will incorporate Direct Lithium Extraction (DLE) technology developed by EnergyX. This system is designed to operate in a closed loop by reinjecting the extracted brine, with the aim of reducing water consumption compared to conventional methods based on evaporation ponds.
The US company believes that this technology can contribute to improving the efficiency of the production process and reducing some of the impact associated with obtaining the mineral.
The production will take place in two stages
As for the schedule, Black Giant will reach a total planned capacity of 52,500 tonnes of lithium carbonate equivalent per year when operating at full capacity.
The first phase includes a unit with the capacity to produce 7,500 tons per year, which is scheduled to become operational in 2028. Subsequently, a second stage will add new units that will contribute another 45,000 tons per year, with operations scheduled to begin in 2030.
The investment reinforces Eni's strategy in critical minerals
Eni 's strategy to diversify its supply sources through investments in critical minerals needed for the energy transition. The addition of EnergyX as a technology partner allows the Italian company to advance its procurement of raw materials for lithium-ion battery manufacturing and reduce its dependence on external suppliers.
The agreement also highlights the growing interest of large energy companies in expanding their presence in the lithium sector, a resource considered strategic for energy storage and the development of electrification solutions in various markets.
News of additional interest
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