Mitrani Caballero & Ruiz Moreno and Herbert Smith Freehills have advised the International Finance Corporation (IFC), a member of the World Bank, on its financing of Allkem, a lithium chemical producer.
This transaction was undertaken to support the development of Sal de Vida, a greenfield lithium project in the province of Catamarca, Argentina.
This marks IFC’s first investment in lithium mining and includes up to USD $100 million for IFC’s own account and USD 30 million in mobilisation. An additional $50 million parallel loan arranged by IFC is expected to close at a later date to complete the total financing package.
MCRM’s team was composed of partners Julio Martinez (pictured left), Matias Olcese (pictured right), Maria Laura Lede Pizzurno, Corina Laudato and Maria Paula Terrel and associates Catalina Sarrabayrouse, Maria Jose Fernandez Ruiz, Juan Manuel Iglesias Mamone, Leonel Palomares, Julieta Concetti and Yamila Di Martino.
Herbert Smith Freehills’ team was led by partner Edward Dougherty, supported by senior associate Danielle MacGillivray, and associates Sebastián Celis, Lina Vélez and David Peraza in New York. Partners Jay Leary and Miles Wadley advised from Australia, assisted by Michael D’Agostino, Frank Main and James Darcy.