Sibanye now largest shareholder of Keliber

20th September 2021 By: Marleny Arnoldi - Creamer Media Online Writer

JSE-listed precious metals miner Sibanye-Stillwater has become Finnish mining company Keliber Oy’s largest shareholder, with a 27% stake.

Sibanye has concluded a second tranche of financing, by subscribing for 250 000 shares valued at €10-million, related to a €40-million bridge financing agreement signed between the companies in February.

The first tranche, valued at €15-million for 375 000 shares, was concluded in March.

Keliber has lithium deposits in Finland, which are among the most significant lithium-bearing areas in Europe.

The company aims to build lithium mines and a concentrator plant in Kaustinen, Kokkola and Kruunupyy, as well as a lithium hydroxide plant in Kokkola.

Production is scheduled to start in 2024 at a rate of about 15 000 t/y of battery-grade lithium hydroxide.