Sibanye Stillwater made public its plans to start construction at the Keliber lithium project, on Tuesday.
The production process is expected to kickstart, following assessments, in a responsible and sustainable manner.
This is from mining ore to producing battery grade lithium hydroxide.
The construction phase is set for the first quarter of 2026, at a cost of about EUR783 million.
The project is a Finnish mining and battery chemical initiative, with the aim of mining lithium deposits and to further refine ore, to supply the European markets with electric vehicle (EV) batteries.
Sibanye has a 79% share, while the Finnish Minerals Group holds 20% and the remainder is to a small Finnish shareholder.
The project had tested lithium deposits of about 12,7 million tonnes, in Central Ostrogothnia, Finland.
The project will mine from five areas and also refine closeby.
Richard Stewart, CEO of Sibanye-Stillwater, said “the staged ramp-up we have agreed on with our strategic partner, ensures that the Keliber lithium project advances responsibly, derisking the commissioning phase, to ensure an optimal technical and commercial approach, balancing market realities with stakeholder interests.”
Picture: Supplied