Sibanye-Stillwater approves implementation of the Keliber project and begins the construction of the Keliber lithium hydroxide refinery
Highlights:
Keliber lithium hydroxide project approved by Sibanye-Stillwater board
Progressing our European battery metals strategy and delivering superior value for all stakeholders
A high quality, integrated lithium project, positioned to supply LiOH into the growing European Battery ecosystem
Keliber project economics robust at conservative forecast lithium prices
Significantly leveraged to higher prices
Construction of the Kokkola lithium hydroxide refinery commencing and viable on a standalone basis
Positive outlook for Lithium market
Significant scalability of both primary supply and refining capacity
Strategically important for Finland and the European battery sector
Strategic delivery
Progress in building our portfolio of green metals and energy solutions
Increased Keliber shareholding to 85% -strategic value accretive, majority shareholding achieved
Increased exposure to the high-quality scalable Keliber lithium hydroxide project; in a favourable location, at opportune time in cycle
Enhancing established presence in European regional ecosystem -Keliber, Sandouville and Verkor Giga factory investment
World-class project in superior location
Strategically located, fully integrated lithium hydroxide project, close to critical regional end user ecosystems
Delivering 15,000tpa integrated LiOH into the European battery Ecosystem for at least 16 years
17m tonnes of scalable lithium oxide mineral resources in a highly prospective region
Finland rated the best mining destination in Europe and Top 10 in the world
Robust economics
NPV of €887m (8% discount rate) and IRR of 20% at LiOH long term price of US$26,034/t*
NPV of €1.72bn (8% discount rate) and IRR of 27% at LiOH long term price of US$37,000/t#
Supportive environment and outlook
Consensus for elevated lithium price forextended period due to looming deficits increasing
Projected BEV demand driven by legislation –lithium is essential to reduce global CO2emissions
Constraints on new supply to meet implied demand
Positive benefits for all stakeholders
Substantial investment into key industries identified by Finnish state as of strategic importance
First and greenest integrated battery metals project in Europe -competitively low CO2emissions a differentiator
Important benefits for Finland fiscus and regional stakeholders –local employment and procurement for the region
Biodiversity impact studies conducted and considered in the development of the project
* February 2022 DFS amended during October 2022 for inflation impact on costs and capex, assuming long-term price LiOH of US$26,034/tonne and exchange rate of €/US$1.1, NPV at 8% discount
#Long-term LiOH price of US$37,000/tonne (SFA Oxford real forecast LT price) applied to amended October 2022 DFS. NPV at 8% discount
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Integrated Report 2021
Our 2021 reports cover our progress and achievements in delivering on our strategic objectives.
