Eni takes 25% stake in EnergyX’s Black Giant lithium project in Chile
- Eni will acquire a 25% stake in Black Giant SpA with a total phased investment of $225 million.
- The Black Giant project targets 52.5 kton/year of lithium carbonate equivalent (LCE) at full capacity, split into a 7.5 kton/year Train 1 and an additional 45 kton/year expansion.
- Train 1 is expected to start up in 2028, with the broader expansion scheduled for start-up in 2030.
- The agreement grants Eni a board seat, an option to offtake up to 25% of total LCE, and foresees deployment of DLE technology in a closed‑loop brine reinjection system.
Deal terms
Eni will acquire a 25% stake in Black Giant SpA, a Chilean subsidiary of EnergyX, through a total phased investment of $225 million. The transaction includes a seat on Black Giant’s board and an option for Eni to offtake up to 25% of the project’s LCE production.
Project and technology
Black Giant will deploy EnergyX’s proprietary Direct Lithium Extraction (DLE) technologies. The development is designed as a closed‑loop system with full reinjection of produced brine, aimed at reducing water impact compared with conventional evaporation‑pond methods.
Production schedule
The project is sized for 52.5 kton/year of lithium carbonate equivalent at full capacity. Execution will be staged: Train 1 with 7.5 kton/year is expected to start up in 2028, followed by additional trains adding 45 kton/year with start‑up expected in 2030.
Strategic rationale
Eni will provide technical and operational support drawing on upstream and energy‑infrastructure capabilities to accelerate commercialization. The investment aligns with Eni’s strategy to diversify supply chains and enter the critical minerals value chain, and supports its Gigafactory initiative for stationary lithium batteries in Brindisi.
Source: Eni