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Allkem has investment proposal for $200 million project financing facility
Chicago, Oct. 6 – Allkem Ltd. entered into a non-binding term sheet for a $200 million project financing facility with International Finance Corp., according to a press release.
The debt package includes up to $100 million from IFC for a tenor of up to nine years and remainder funded by a syndicate of commercial banks.
The facility is expected to close before the end of 2022.
Proceeds will be used to support Alkem’s development of the Sal de Vida project located in Catamarca Province, Argentina.
The project is designed to produce predominantly battery grade lithium carbonate.
Based in Australia, Allkem is a specialty lithium chemicals company formed from the merger of Orocobre Ltd and Galaxy Resources.
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