The World's largest primary producer of platinum, Sibanye-Stillwater, has agreed to invest EUR30 million into European lithium company Keliber Oy. The company will make an initial equity investment for an approximate 30% equity shareholding into Keliber and further offer EUR10 million equity to the existing Keliber shareholders.
- Sibanye intends to enter into the battery metal sector to encash the opportunity on the global shift towards clean and green energy.
- Keliber holds and operates an advanced stage lithium spodumene in Finland. The project contains 9.3Mt of ore reserves along with the development of a chemical plant.
- Keliber's lithium project would empower Sibanye to move battery-grade lithium hydroxide into European business sectors.
- The deal is expected to close in March and is subjected to the South African Reserve Bank's approval.