Sibanye-Stillwater enters battery metals sector

By | 2021-02-23T08:41:46+00:00 February 23rd, 2021|

Sibanye-Stillwater has ended months of speculation of where their next investment would lie, by entering into an investment agreement with lithium producer Keliber Oy in Finland. It was well-known that the company was looking at entering the battery metals sector. The transaction is expected to be implemented soon, subject to approval by the South African Reserve Bank.

Keliber’s wholly-owned, advanced lithium project, the Keliber project, is in the Kaustinen region of Finland, one of the most significant lithium-bearing areas in Europe. Finland represents an attractive low-risk mining jurisdiction (top five jurisdiction in the Fraser Institute) and has developed a National Battery Strategy that outlines the objectives for the country to become a competitive, competent, and sustainable player in the international battery industry. Europe is rapidly becoming a leading hub for the manufacture of batteries for electric vehicles and Keliber’s location in Finland enables efficient transport of lithium hydroxide to European customers.

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Source: African Mining Publication