Sibanye-Stillwater To Acquire Majority Shareholding In Keliber
Sibanye-Stillwater To Acquire Majority Shareholding In Keliber. Sibanye-Stillwater acquired an initial 30.29% shareholding in Keliber Oy (“Keliber”), by way of a phased equity investment and is pleased to announce that it intends to exercise its pre-emptive right to increase its shareholding in Keliber to 50% plus 1 share (“the Pre-emptive Offer”).
Simultaneous with the Pre-emptive Offer, the Company will also make a voluntary cash offer to minority shareholders of Keliber, other than the Finnish Minerals Group, which could initially increase its shareholding in Keliber to over 80%. Keliber is a Finnish mining and battery chemical company which owns the Keliber project, an advanced lithium hydroxide project located in the Kaustinen region of Finland which intends to sustainably produce battery grade lithium hydroxide utilising its own ore.
Neal Froneman, CEO of Sibanye-Stillwater, commenting on the proposed transactions said in a statement, “This is a further significant step in our strategy to build a unique global portfolio of green metals in a value accretive manner. We look forward to partnering with our Finnish stakeholders to build the Keliber project, which will be the first mining and metallurgical operation in Europe to deliver high quality, low-cost lithium hydroxide with a low carbon footprint and will be ideally placed to deliver critical metals into the growing European battery industry.”
Keliber is aiming to be the first fully integrated lithium producer in Europe with full production of approximately 15,000 tonnes of lithium hydroxide per annum and direct market access to European markets from the Port of Kokkola where its fully permitted1 lithium chemical plant is based. Finland is 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 and market for batteries and electric vehicles. Keliber’s location in Finland enables efficient transport of lithium hydroxide to European customers.
Sibanye-Stillwater is a multinational mining and metals Group with a diverse portfolio of mining and processing operations and projects and investments across five continents. The Group is also one of the foremost global PGM autocatalytic recyclers and has interests in leading mine tailings retreatment operations.
