Eni invests $225 million to acquire a stake in U.S. firm EnergyX’s Chilean lithium project, securing 25% of lithium output. The project, structured in two phases with an annual production capacity of 52,500 tons of lithium carbonate, utilizes direct lithium extraction (DLE) technology and has secured $690 million in U.S. financing. However, the official operating permit from Chilean authorities has not yet been approved. The project has proven reserves of 9.8 million metric tons of lithium carbonate equivalent, with a mineral rights stake exceeding 80%, and its site selection avoids salt flats.
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