EFA Throws Combined ECA Support Behind Lithium Venture
(9 August 2023 – Australia) Export Finance Australia (EFA) has joined with Export Credit Agencies (ECA) including the Export-Import Bank of the United States (EXIM) and the Korea Trade Insurance Corporation (K-Sure) to jointly issue a Letter of Support for financing Liontown Resources Kathleen Valley Lithium Project.
Australia is the world’s largest producer of lithium and contains the fourth largest reserves behind Bolivia, Argentina and Chile. Lithium is a crucial input to batteries such as those used in electric vehicles (EVs) but almost the entirety of Australian lithium exports are destined for processing in China. China and Russia are currently investing heavily in lithium projects in Bolivia to develop lithium carbonate plants.
“As Australia’s international financing agency, EFA’s strong partnership approach with EXIM and K-Sure is essential to our support for the critical minerals sector. The Letters issued by EFA, EXIM and K-Sure will help Liontown to arrange its financing for the Kathleen Valley Lithium project, including supporting the participation of commercial bank finance” commented EFA Managing Director and CEO, John Hopkins.
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