Trafigura secures access to lithium from EnergyX
Trafigura has secured 100,000 tonnes of lithium products over ten years through an agreement with EnergyX, sourced from the Black Giant project in Antofagasta, Chile, and the Lonestar project in Texas. Trafigura has committed to purchasing 66 per cent of the offtake volume from the first phase of Black Giant and 30 per cent of the offtake volume from the first phase of Lonestar, with a significant portion to supply the US battery industry. EnergyX values the agreement at more than two billion US dollars based on current lithium market prices, and it remains unclear whether Trafigura will pay spot market prices or a fixed price tier.
Why it matters: The agreement illustrates the critical minerals theme, with a trading house contracting long-term battery-grade lithium supply for the US automotive and energy storage industries.