Keliber Lithium Project Financing Proceeds as Planned
Financing for the Keliber lithium project is advancing as planned, with construction set to begin. The company has also completed the environmental impact assessment for its Kaustinen anorthosite sand mining concession application.
Sibanye Stillwater's subsidiary, Keliber, has reported that the financing for its lithium project is proceeding according to plan, paving the way for construction to commence. The project's investment is estimated at approximately 588 million euros.
In January 2023, Keliber concluded the environmental impact assessment (EIA) procedure for its mining concession application for anorthosite sand in Kaustinen. The company had previously secured its financing package, which comprises debt financing and equity financing.
The Keliber lithium project is a significant initiative to strengthen the raw material supply chain for the battery and chemical industries in Europe. Previous statements from the company indicated that the project's environmental impacts were comparable to those of similar projects.
The project aims to produce European lithium for battery material production, supporting the green transition and reducing reliance on imported battery materials. The commencement of construction marks the project's transition into its execution phase.