Precious and battery metals company Sibanye-Stillwater has closed the final tranche of its €30-million investment in lithium firm Keliber and now owns about 30% of the Finnish company.
In the final tranche, Sibanye subscribed for 125 000 shares for €5-million. This followed a €15-million subscription in March 2021 and a €10-million subscription in September.
Sibanye’s investment in Keliber forms part of its strategy to branch out into battery metals, having previously focused on gold and platinum group metals.
Based on a feasibility study completed in 2019 and improved in 2020, Keliber has 9.3-million tonnes of ore reserves, sufficient for more than 13 years of operation.
The mine will produce an average of 15 000 t/y of battery-grade lithium hydroxide. The project includes the development of a chemicals plant in Kokkola, about 50 km from the mining area.