Allkem gets $50 million of additional financing for lithium project

By Angela McDaniels

Tacoma, Wash., Dec. 14 – Allkem Ltd. received $50 million of long-term financing from IDB Invest for its Sal de Vida lithium project in Argentina, according to a company news release.

The terms of the financing are materially consistent with the up to $130 million of project financing that International Financing Corp. agreed in July to provide.

The financing will support sustainable development in line with environmental and social standards.

The increased project financing of $180 million remains structured as green and sustainability-linked loans.

Based in Brisbane, Australia, Allkem is a specialty lithium chemicals company formed from the merger of Orocobre Ltd and Galaxy Resources.

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