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Sibanye-Stillwater increases ownership of Finland-focused lithium business

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(Kitco News) - Sibanye Stillwater increased its share of ownership in Keliber Oy by subscribing for 250,000 shares at EUR 10 million (US$11.73 million). It is Sibanye-Stillwater's second tranche of the EUR 40 million bridge financing arrangement the companies announced in February 2021.

On 19 March 2021, Keliber announced that Sibanye-Stillwater had subscribed for 375,000 new shares for a total of EUR 15 million. As part of the bridge financing, Keliber's other shareholders subscribed for 250,000 shares at EUR 10 million, which was published on 20 April 2021.

Keliber said that Sibanye-Stillwater now owns 27 percent of Keliber's shares, which makes it the biggest shareholder.

Last week Keliber announced that its estimated proved and probable ore reserves at its Keliber project's largest Rapasaari deposit now total 8.21 million tonnes, up 55% from the previous estimate, at an average lithium oxide (Li2O) grade of 0.89.

Last week, Sibanye-Stillwater spent $490 million on a joint venture with another battery metals company, ioneer, which is developing its Rhyolite Ridge Lithium-boron project located in Nevada, USA.

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