Sibanye-Stillwater is pleased to announce that, subsequent to securing an effective controlling interest of approximately 85% in Keliber Oy (Keliber) as announced on 3 October 2022, the Board of Sibanye-Stillwater has approved capital expenditure of €588m for the Keliber lithium hydroxide project (Keliber project), beginning with the construction of the Kokkola lithium hydroxide refinery (the Kokkola refinery).

The Kokkola refinery will be located at the Kokkola industrial park in Finland, a world-class industrial and logistics hub, strategically positioned to supply the growing European battery sector.

The construction of the Kokkola refinery marks the first phase in the development of Keliber’s wholly owned, advanced, Keliber project, located in the Central Ostrobothnia region of Finland, one of the most significant lithium-bearing areas in Europe.

Neal Froneman, CEO of Sibanye-Stillwater said “We are delighted to advance and grow our presence in the European battery metals industry through Keliber, which we expect will be the first fully integrated European lithium hydroxide producer supplying the European market and is expected to have one of the lowest carbon emission footprints in the industry. We look forward to working with all stakeholders to deliver this exceptional project which will contribute to the Finnish battery metals ecosystem as well as to the growth of our unique portfolio of green metals that reverse climate change.”