Keliber lithium hydroxide project : Sibanye-Stillwater approves €588m capex

TAGS

Sibanye-Stillwater has sanctioned capital expenditure (capex) of €588 million for the Keliber lithium hydroxide project in Finland having increased its interest to around 85% in Keliber Oy, a Finnish mining and battery chemicals maker.

According to the South African miner, construction at the Kokkola lithium hydroxide has started, which marks the first phase in the development of the Keliber lithium project situated in the Central Ostrobothnia region of the country.

Located at the Kokkola industrial park, the Kokkola lithium hydroxide refinery is expected to manufacture an average of 15,000 tonnes of battery grade lithium hydroxide monohydrate per annum.

See also  Lithium Power to create WA-focused lithium exploration company

The lithium hydroxide refinery in Finland will leverage soda leaching technology provided by and .

Sibanye-Stillwater sanctions capex of €588m for the Keliber lithium hydroxide project in Finland

sanctions capex of €588m for the Keliber lithium hydroxide project in Finland. Photo courtesy of Keliber Oy.

— Sibanye-Stillwater CEO, commenting on the Keliber lithium hydroxide project, 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.

See also  Tucano Gold to make historic acquisition in Brazil, poised to reshape gold industry by 2024

“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.”

Keliber is planning to fund the construction of the Keliber lithium hydroxide project through €146 million, already raised through the issue of new Keliber shares to Sibanye-Stillwater, an additional €104 million through planned equity by the end of January 2023, and a minimum of €250 million of debt.

See also  Servotech Power Systems establishes Servotech EV Infra to boost EV charging infrastructure

Leveraging its own ore, Keliber plans to produce battery-grade lithium hydroxide, which is used in the manufacture of electric vehicles.

In October, the South African miner increased its interest in Keliber from 30% to 85%.


Discover more from Business-News-Today.com

Subscribe to get the latest posts sent to your email.

CATEGORIES
TAGS
Share This