Sibanye-Stillwater Initiates Construction of Keliber Lithium Refinery

Sibanye-Stillwater, a prominent mining company, has commenced the earthworks for the Keliber lithium refinery, symbolically laying the foundation stone on March 7, 2023.

This milestone signifies the ceremonial launch of the Keliber lithium project, which aims to provide the first locally sourced lithium to power the European green energy ecosystem. The project’s strategic regional positioning, coupled with its robust environmental, social, and governance (ESG) credentials, is poised to deliver the most eco-friendly primary lithium to the expanding European battery market.

An estimated €231 million of the projected total capital expenditure of €588 million for the Keliber lithium project has been allocated for investment in 2023.

Following the successful completion of the recent rights issue, the necessary funding for this year is secured, and the remaining project capital is anticipated to be financed through debt.

Sibanye-Stillwater currently holds approximately 79% ownership of the Keliber project, while the Finnish Minerals Group possesses a 20% stake.

Neal Froneman, CEO of Sibanye-Stillwater, expressed the company’s commitment to creating significant shared value for all stakeholders, stating, “The Keliber lithium project aligns with Sibanye-Stillwater’s core business philosophy.

In addition to supplying crucial green metals to the European ecosystem, the project is expected to generate employment opportunities for over 300 individuals during its anticipated 16-year lifespan. Furthermore, it will create avenues for local suppliers of goods and services, thus playing a vital role in fostering future economic growth within the region.”