Name of the Project
Keliber lithium hydroxide project.

Location
Central Ostrobothnia, Finland.

Project Owner/s
Sibanye-Stillwater owns about 79% of the Keliber project while the Finnish State-owned Finnish Minerals Group owns 20%.

Project Description
The project will include the Kokkola refinery at the Kokkola Industrial Park (KIP).

The project comprises four initial opencast and three underground, highly mechanised mining operations – Syväjärvi and Rapasaari, with Emmes, Outovesi, and Länttä situated across the municipalities of Kaustinen, Kokkola and Kronoby respectively.

The mining operations will supply ore to the Päiväneva concentrator, which will be situated close to the Rapasaari mine. Concentrate produced at the Päiväneva concentrator is planned to be trucked about 66 km to the Kokkola refinery, which is forecast to produce about 15 000 t/y of battery-grade lithium hydroxide monohydrate.

Openpit and underground ore reserves of 12.7-million tonnes (0.92% lithium oxide), and mineral resources of 17-million tonnes (1.02% lithium oxide) support an estimated life-of-mine of 16 years at a forecast average milling rate of about 800 000 t/y.

Potential Job Creation
The project is expected to provide employment for more than 300 people over its current expected mine life. The project will also create new opportunities for local suppliers of goods and services.

Net Present Value/Internal Rate of Return
The updated definitive feasibility study (DFS) has estimated a pretax net present value, at an 8% discount rate, of €510-million, compared with the €295-million estimated in the 2018 DFS.

The pretax internal rate of return has also increased from 24% in the 2018 DFS to 28% in the 2019 updated DFS.

The payback period for the project has decreased from 5.5 years to 3.7 years.

Capital Expenditure
Sibanye-Stillwater approved capital expenditure (capex) of €588-million for the project in November 2022, of which the refinery’s capital cost is €359-million.

Planned Start/End Date
Keliber aims to start production at the chemical plant in 2024.

Latest Developments
Sibanye-Stillwater celebrated the ceremonial launch of its Keliber lithium project on May 11, 2023, with a foundation-stone-laying ceremony taking place at the KIP.

The earthworks for the Keliber lithium refinery, which is expected to supply the first integrated, regionally produced lithium into the European green energy ecosystem, started on March 7 and is progressing to plan.

About €231-million of the €588-million estimated total capital expenditure for the Keliber lithium project is planned for investment this year.

Following completion of the recent rights issue, the required funding for 2023 is in place, with the remaining project capital expected to be debt-financed.

Key Contracts, Suppliers and Consultants
Metso Outotec (sustainable soda pressure leaching technology).

Contact Details for Project Information
Keliber Oy, tel +358 10 567 0600 or email info@keliber.fi.