(Kitco News) – Sibanye-Stillwater (NYSE: SBSW) announced Monday that its Board has approved capital expenditure of €588m for the Keliber lithium hydroxide project in Finland, beginning with the construction of the Kokkola lithium hydroxide refinery.
"The construction of the Kokkola refinery marks the first phase in the development of Keliber’s wholly owned, advanced, Keliber project, located in the Central Ostrobothnia region of Finland, one of the most significant lithium-bearing areas in Europe," the company said in a statement.
Four initial open cast and three underground, highly mechanised mining operations, (primarily Syväjärvi and Rapasaari, with Emmes, Outovesi, and Länttä towards the end of the project life), situated across three municipalities (Kaustinen, Kokkola and Kronoby), are planned to supply ore to the Päiväneva concentrator which will be situated close to the Rapasaari mine, it added.
Concentrate produced at the Päiväneva concentrator is planned to be trucked approximately 66 kilometers to the Kokkola refinery. The Kokkola refinery is forecast to produce an average of 15,000 tonnes of battery grade lithium hydroxide monohydrate per year.
"The approval of the Kokkola refinery follows Sibanye-Stillwater increasing its shareholding in Keliber to a controlling 84.96% and the consolidation of the Keliber shareholder register from 114 to 10 shareholders (Finnish Minerals Group 14%; minorities 1%), enabling Sibanye-Stillwater to act decisively and fast-track the Keliber project," the company said.
Sibanye-Stillwater is a multinational mining and metals company with a diverse portfolio of mining and processing operations and projects and investments across five continents. The company is also one of the foremost global PGM autocatalytic recyclers and has interests in leading mine tailings retreatment operations.
Keliber is a European, Finnish special chemical and mining company with the aim of producing sustainable, high-purity, battery-grade lithium hydroxide for the growing lithium battery industry in 2024 by utilizing own ore.
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