JSE-listed gold mining company Sibanye-Stillwater has announced its intention to increase its shareholding in Keliber Oy, a Finnish mining and battery chemical company, to 50% plus one share in a pre-emptive offer, following its initial 30.2% shareholding acquisition in February 2021. The Finnish company owns the Keliber project, which is premised on advanced lithium hydroxide that produces a sustainable grade lithium hydroxide battery using its own ore.
Froneman says the company looks forward to partnering with Finnish stakeholders to build the Keliber project which is expected to be the first mining and metallurgical operation in Europe to deliver high-quality, low-cost lithium hydroxide. Sibanye-Stillwater says as a result of the voluntary offer, a capital raise by Keliber will be executed and an equalisation mechanism may be implemented, if required, to ensure it achieves the majority shareholding.