Keliber’s goal is to start the production of battery-grade lithium hydroxide in Central Ostrobothnia in 2024.
Finn mining and chemical company Keliber is receiving funding of around EUR 40 million. The company said that under an agreement signed on Tuesday, Sibanye-Stillwater will subscribe for the company’s shares for € 15 million and the current shareholders for € 10 million.
South African Sibanye-Stillwater is the world’s leading producer of precious metals.
According to Keliber, the funding will significantly contribute to the progress of its lithium project in Central Ostrobothnia. Keliber’s goal is to begin production of battery-grade lithium hydroxide in 2024. Sibanye-Stillwater plans to take on the lead role as Keliber’s financier as the project progresses to the construction phase in the middle of next year.
Minister of Economic Affairs Mika Lintilä (Central) rejoiced at Keliber’s announcement on Tuesday.
“The funding Keliber receives means that the project, which has been under construction for decades, is progressing. When implemented, the Keliber project will mean jobs and significant tax revenues for Central Ostrobothnia, ”Lintilä said in a press release.
“Central Ostrobothnia is in a really good position to become a concentration in the battery industry. The electrification of transport and society represents a huge business opportunity for Finland. Central Ostrobothnia is at the forefront in this respect. ”
From 2024 onwards, Keliber aims to employ 150-200 people in various positions. The construction phase from 2022 to 2024 is estimated to employ up to 500 people.