Sibanye-Stillwater Invests EUR 146 Million in Keliber, Increases Stake
Sibanye-Stillwater has paid EUR 146 million for new shares in Keliber Oy, taking its stake to over 50%. The registration of the shares is expected by late October, confirming the planned financing for the lithium project.
Sibanye-Stillwater Limited has paid EUR 146 million to subscribe for new shares in Keliber Oy, thereby increasing its ownership to a majority stake. The payment completes a directed share issue resolved by Keliber's extraordinary general meeting on July 11, 2022.
The company announced on August 15, 2022, that it subscribed for 975,987 new shares. Registration of these shares in the Trade Register is anticipated by October 30, 2022. Post-registration, Sibanye-Stillwater's holding in Keliber will rise to 50% plus one share, from its previous 30.3%.
This financing arrangement proceeds as planned for the mining company's lithium project. Sibanye-Stillwater's increased investment solidifies its position in the European battery metals sector, as Keliber focuses on lithium production. Keliber operates several lithium deposits in Central Finland.
The investment supports Keliber's strategy to commence lithium production. Sibanye-Stillwater's expanded role in Keliber is part of its broader strategy to secure a position in the supply chain for critical minerals essential to the energy transition.