Sibanye-Stillwater Secures €500 Million Green Financing for Keliber Lithium Project
Sibanye-Stillwater has secured a €500 million green loan facility for its Keliber lithium project in Finland. The financing will cover the final capital expenditure for the project's construction and development.
Johannesburg – Sibanye-Stillwater announced on Thursday the execution of a €500 million green loan facility for its Keliber lithium project in Finland. The financing, arranged through subsidiary Keliber Technology Oy, will cover the final capital expenditure required for the construction and development of lithium mining, processing, and refining facilities in Kaustinen, Pedersöre, and Kokkola.
The green loan comprises a €250 million portion guaranteed by Finnish Export Credit Agency Finnvera, a €150 million tranche from the European Investment Bank (EIB), and a €100 million syndicated commercial bank tranche. This comprehensive funding package is expected to fully finance the project.
Sibanye-Stillwater stated that the proceeds will be used to complete the development phase of the Keliber project, which has an estimated total capital expenditure of approximately €656 million. This figure includes roughly €250 million raised through prior equity financing.
The company highlighted that the green loan underscores its commitment to the green energy transition. The project's environmental credentials have been assessed by S&P Global Ratings, which assigned it a "Medium Green" classification, and the financing aligns with the Loan Market Association's Green Loan Principles.