A new partnership between Italy's Eni and Texas-based EnergyX highlights the growing strategic cooperation between Italian and American companies in the race to secure critical minerals for the global energy transition. Although the investment will be developed in Chile, the real significance of the agreement lies in the strengthening of industrial ties between Italy and the United States in one of the world's most important emerging sectors.
Eni has agreed to invest up to $225 million to acquire a 25% stake in Black Giant SpA, the Chilean subsidiary of U.S. lithium technology company EnergyX. The project is located near the Salar de Punta Negra in northern Chile and is expected to become one of the largest Direct Lithium Extraction (DLE) operations in the world.
The Black Giant project is designed to produce up to 52,500 metric tons of lithium carbonate equivalent annually once fully operational. Development will occur in two phases, with the first 7,500-ton production train expected to begin operations in 2028 and full capacity scheduled for 2030. Unlike conventional lithium extraction, EnergyX's proprietary DLE technology reinjects brine underground in a closed-loop system, significantly reducing water consumption and environmental impact.
The agreement builds on an existing relationship between the two companies. Through its venture capital arm, Eni Next, the Italian energy group had already invested in EnergyX several years ago. The new transaction transforms that financial relationship into a long-term industrial partnership, with Eni contributing technical expertise, obtaining a seat on Black Giant's board of directors, and securing the option to purchase up to 25% of the project's future lithium production.
For Italy, the partnership also supports a broader domestic industrial strategy. Lithium supplied through the project is expected to help feed Eni's battery manufacturing initiative currently under development in Brindisi, creating an integrated supply chain that combines American innovation, Italian industrial capabilities, and Chilean natural resources. At a time when governments are seeking more resilient and diversified supply chains for critical minerals, the collaboration demonstrates how Italy and the United States can work together on strategic technologies that will play a central role in the future global energy economy.
