Sibanye-Stillwater's Keliber Lithium Project to Proceed with Staged Start-up
Sibanye-Stillwater announced progress on its Keliber lithium project in Finland, with the construction phase expected to be completed in Q1 2026.
Johannesburg – Sibanye-Stillwater provided an update on its Keliber lithium project in Finland on January 19, 2026, detailing plans for a staged start-up.
The company and its strategic partner, Finnish Minerals Group, have agreed to a phased approach to commissioning the integrated project, considering current market conditions. The construction phase, including cold commissioning of the full operation, is on track for completion in the first quarter of 2026. The total capital investment for this phase is estimated at approximately EUR 783 million.
The staged commissioning will reduce ramp-up risk by initially focusing on the mine and concentrator stages before a decision is made on the refinery start-up. This approach also offers financial flexibility, allowing capital expenditures and refining ramp-up costs to be deferred based on lithium prices and market factors.
Several value engineering opportunities were identified during a recent assessment to optimize processes and reduce unit costs. Finnish Minerals Group is preparing to contribute pro rata to its 20% equity stake for additional financing needed during the ramp-up period.
The Keliber project is described by Sibanye-Stillwater as Europe's most advanced integrated lithium project, with planned production of around 15,000 tonnes of lithium hydroxide per annum for over 18 years. It is highlighted as one of the few lithium hydroxide refineries outside China and is classified as a Strategic Project by the EU under its Critical Raw Materials Act.