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Sal de Vida Project Financing increases to US$180MAllkem Limited (ASX|TSX: AKE, “Allkem” or the “Company”) advises its existing International Financing Corporation (“IFC”) project financing has been supplemented by an additional US$50M with IDB Invest for Allkem’s Sal de Vida Project (“SDV”) located in Catamarca Province, Argentina.
HIGHLIGHTS
In July 2023, IFC project financing for the development of SdV Stage 1 was signed for up to US$130M
IDB Invest has agreed to provide additional long term financing of US$50M on terms materially consistent with the IFC and will support sustainable development in line with internationally recognised environmental and social standards
The increased project financing of US$180M remains structured as green and sustainability-linked loans. IFC and IDB Invest’s environmental and social performance requirements are globally recognised and the awarding of sustainability-linked, green loans to the facility is recognition and validation of the high ESG standards already adopted at Sal de Vida by Allkem
Managing Director and CEO, Martin Perez de Solay said, “We are pleased to increase the size of the sustainability-linked green loans for Sal de Vida which combine ambitious environmental and social targets. These targets and commitments support the responsible and sustainable development of lithium for a greener future and regional economic growth in the province of Catamarca. We are proud to partner with IFC and IDB Invest to ensure long-term safe and sustainable operations, including local employment, the development of local supply chains, and community development programs.”
