Sibanye-Stillwater to forays into battery metals sector

February 24, 2021 12:46 PM AEDT
Akshay

Senior Analyst Akshay
5 Posts
Akshay is a research professional with 6.5 years of experience in Consulting and Research industry across the Mining, Chemicals and Energy domains. He is trained in client servicing, due diligence, research and analysis of the mining and energy commo...

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.

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