Keliber lithium project on track for Q1 2026 completion, Sibanye says

Sibanye-Stillwater completed a multidisciplinary assessment of the Keliber lithium project and says construction, including cold commissioning, remains on track for completion in Q1 2026; the company estimates about €783 million is needed to finish the construction phase.

Sibanye-Stillwater has completed a multidisciplinary assessment of the Keliber lithium project in Finland and reports that construction including cold commissioning remains on track for completion in Q1 2026. Keliber is described as the EU's most advanced integrated mine-to-market lithium project, planned to produce battery-grade lithium hydroxide monohydrate at about 15,000 tonnes per year for more than 18 years. The project is classified as strategic under the EU's Critical Raw Materials Act. Sibanye said the capital required to complete the construction phase is estimated at approximately €783 million. Key facts: - Sibanye-Stillwater completed a multidisciplinary assessment of the Keliber lithium project. - Keliber is planned to produce about 15,000 tonnes per annum of battery-grade lithium hydroxide monohydrate for over 18 years. - The EU has classified the project as strategic under the Critical Raw Materials Act. - Construction, including cold commissioning of the fully integrated project, is reported on track for Q1 2026 completion. - The estimated capital to complete the construction phase is approximately €783 million. - Sibanye and its partner Finnish Minerals Group agreed a staged start-up; the Finnish Minerals Group holds a 20% equity stake and will prepare to participate pro rata in additional financing. Summary: The staged commissioning approach is intended to reduce ramp-up risk by ensuring mining and concentrating stages reach operational readiness before deciding on refinery commissioning. The approach also preserves financing flexibility by allowing some capital and refining ramp-up costs to be deferred based on market conditions. The Finnish Minerals Group is preparing to participate pro rata to its 20% stake for additional financing. Decisions on the timing of refinery commissioning will be made as market and technical conditions are assessed.