Finland-based battery metal and chemical producer Keliber reports that its ore reserves estimate has been updated, as of August 31, increasing by 32% to 12.3-million tonnes of lithium from the previous estimate of 9.37-million tonnes.
JSE- and NYSE-listed precious metals miner Sibanye-Stillwater has a 30% stake in Keliber, with the latter’s lithium deposits based in the Kaustinen, Kokkola and Kruunupyy municipalities in Finland, which are among the most significant lithium-bearing areas in Europe.
The update is based on the revised mineral resource estimate, published in May, with the estimated ore reserves of Keliber’s largest lithium deposit – Rapasaari – having increased by 55% from the previous estimate of December 2019.
The estimated proven and probable ore reserves at the Rapasaari deposit now total 8.21-million tonnes, up from the 5.28-million tonnes in 2019, at an average lithium oxide (Li2O) grade of 0.89%, down from the 0.94% of 2019.
Keliber’s total proven and probable ore reserves now total 12.30-million tonnes, up from the 9.37-million tonnes of 2019, at an average grade of 0.94% Li2O, marginally down from the 0.98% of 2019.
Currently, the Rapasaari deposit represents 67% of Keliber’s total ore reserves, up from 56% in 2019.
Keliber CEO Hannu Hautala says that, in May, the company reported on the significant growth of the mineral resources of the Rapasaari lithium deposit, which raised expectations for “excellent” numbers regarding the ore reserves.
“The increase of more than 50% at Rapasaari will extend the life of Keliber's planned mining operations by more than two years.”
He adds that, by continuing its exploration activities and systematic drilling programme, Keliber will ensure its position as a lithium hydroxide producer well into the future.