Sibanye-Stillwater (Tickers JSE: SSW and NYSE: SBSW) is pleased to announce that at a ceremony held at the Kokkola Industrial Park (KIP) in Finland today, it laid the foundation stone of the Keliber lithium refinery. The earthworks for the Keliber lithium refinery commenced on 7 March 2023, with pleasing progress to date.
The laying of the foundation stone marks the ceremonial launch of the Keliber lithium project, which is expected to supply the first integrated, regionally produced lithium into the European green energy ecosystem. The competitive regional positioning of this project, with its strong ESG credentials, is set to deliver the greenest primary lithium into the growing European battery market.
Approximately €231million of the €588 million estimated total capital expenditure for the Keliber lithium project (excluding sustaining capital), is planned for investment during 2023. Following completion of the recent rights issue, the required funding for 2023 is in place, with the remaining project capital expected to be debt financed.
Sibanye-Stillwater currently owns approximately 79% of the Keliber project while the Finnish Minerals Group (which manages the Finnish State’s mining industry shareholdings), owns 20%.
Neal Froneman, CEO of Sibanye-Stillwater said “It is a central part of Sibanye-Stillwater’s business ethos to create superior shared value for all our stakeholders. In addition to delivering critical green metals into the European ecosystem, the Keliber lithium project is expected to provide employment for over 300 people over its current expected life of 16 years. The project will also create new opportunities for local suppliers of goods and services, and is acknowledged as a significant contributor to the growth of the local economy in future.”
About Sibanye-Stillwater
Sibanye-Stillwater is a multinational mining and metals processing group with a diverse portfolio of operations, projects and investments across five continents. The Group is also one of the foremost global recyclers of PGM autocatalysts and has interests in leading mine tailings retreatment operations.
Sibanye-Stillwater has established itself as one of the world’s largest primary producers of platinum, palladium, and rhodium and is a top tier gold producer. It also produces and refines iridium and ruthenium, nickel, chrome, copper and cobalt. The Group has recently begun to build and diversify its asset portfolio into battery metals mining and processing and is increasing its presence in the circular economy by growing and diversifying its recycling and tailings reprocessing operations globally. For more information refer to https://www.sibanyestillwater.com.
Keliber is an advanced lithium project, located in Kaustinen and Kokkola, Finland. Keliber aims to be the first European producer of battery-grade lithium hydroxide from its own mined ore reserves. Keliber is a subsidiary of Sibanye-Stillwater, a multinational mining and metals processing Group, with Finnish Minerals Group as the second largest shareholder, a state-owned company developing the value chain of lithium-ion batteries.
Investor relations contact:
Email: ir@sibanyestillwater.com
James Wellsted, Executive Vice President: Investor Relations and Corporate Affairs
Tel: +27 (0) 83 453 4014
Website: https://www.sibanyestillwater.com
YouTube: https://www.youtube.com/@sibanyestillwater/videos
Sponsor: J.P. Morgan Equities South Africa Proprietary Limited
