Sociedad Química y Minera de Chile (SQM), a company engaged in the extraction and processing of lithium, announced the issuance of green bonds in its operations in Chile.

SQM, the world’s second largest lithium producer, will issue green unsecured bonds in the amount of $700 million, maturing in 30 years with a yield of 3.545%. All or part of the proceeds will be used for investment in ongoing and/or future eligible green projects. These projects include expenditures for the development, expansion and maintenance of lithium mining and processing projects, and lithium hydroxide and lithium carbonate production (solids relevant to the clean transportation and energy efficiency sectors).