Recent work | February 23, 2021

Roschier advised Sibanye–Stillwater in their investment in lithium company Keliber

Precious metal mining company Sibanye Stillwater Limited has entered into the battery metals sector through a phased initial equity investment of EUR 30 million into Keliber Oy, a leading European lithium company. Sibanye–Stillwater will receive approximately 30% equity shareholding with an option to achieve a majority shareholding in Keliber. Roschier advised Sibanye–Stillwater in the transaction.

Keliber’s wholly-owned advanced lithium project is located in the Kaustinen region of Finland and consists of several advanced stage lithium spodumene deposits. Based on a feasibility studies completed to date, Keliber currently has 9.3 million tons of ore reserves, sufficient for more than 13 years of operation. Planned annual production is 15,000 tons of battery grade lithium hydroxide. Production is anticipated to start in 2024. The project includes the development of a chemical plant in Kokkola, which will produce battery grade lithium hydroxide.

Sibanye–Stillwater’s investment together with existing shareholders’ investments will allow for the completion of further detailed mining optimization studies, permitting, metallurgical test work and detailed engineering design.

An updated and enhanced definitive feasibility study will be completed within 18 to 24 months, with a view to achieving successful project financing of a currently estimated EUR 340 million by the second half of 2022.

Sibanye Stillwater Limited is a company based in South Africa with a primary listing on the Johannesburg Stock Exchange and a secondary listing on the New York Stock Exchange in the US.

Roschier’s core advisory team comprised Toni Siimes, Wiljami Siitonen and Anniina Kunnaton.