Eni has agreed to acquire a 25 per cent stake in EnergyX’s Chilean subsidiary Black Giant, which is developing a lithium project near the Salar de Punta Negra in northern Chile.

The Italian energy company will invest a total of $225 million in phases as part of the partnership.

Black Giant will use EnergyX’s proprietary Direct Lithium Extraction (DLE) technology, designed to improve lithium recovery efficiency while reducing environmental impacts through a closed-loop system that reinjects extracted brine.

The project aims to produce 52.5 kilotonnes per year of lithium carbonate equivalent (LCE) at full capacity.

Development will take place in two phases, beginning with Train 1, which is expected to produce 7.5 kilotonnes annually from 2028.

Additional production capacity of 45 kilotonnes per year is planned for 2030.

Under the agreement, Eni will gain a seat on Black Giant’s board and the option to purchase up to 25 percent of total lithium output.

The supply will support Eni’s stationary lithium battery gigafactory initiative in Brindisi, Italy.

Eni will also contribute technical and operational expertise from its global energy infrastructure and upstream activities.

The investment aligns with the company’s strategy to diversify supply chains and expand its role in the critical minerals sector through innovative lithium projects. -OGN/TradeArabia News Service