Sibanye Stillwater Boosts Keliber Lithium Project Budget to €667 Million

Published 1 days agoSBSW

Sibanye Stillwater Boosts Keliber Lithium Project Budget to €667 Million

Sibanye Stillwater has adjusted the budget for its Keliber lithium project in Finland, raising the total estimated cost to €667 million, up from an initial projection of €588 million. This €79 million increase is part of the company's plan to enhance the project's infrastructure and environmental compliance.

The additional costs are primarily attributed to a significant revision in the design of the effluent water treatment facility at the lithium refinery. The integration of advanced technology into the treatment process was necessary to meet environmental permits and improve resource recovery rates. As reported by miningmx.com, these adjustments have not adversely impacted the project's net present value, thanks to expected profitability from improved recoveries.

In support of these developments, Sibanye Stillwater has secured a comprehensive €500 million green financing package. This includes contributions from export credit guarantee agencies, the European Investment Bank, and various commercial banks. The Keliber project, poised to produce about 15,000 metric tons of battery-grade lithium starting in 2026, supports the company's strategic shift towards battery metals, driven by the rising demand for electric vehicles.

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