The Keliber lithium project has been recognised by the European Commission as a strategic project under the Critical Raw Materials Act.
Recognized as a strategic project by the European Commission under the Critical Raw Materials Act, the Keliber project is vital for Europe’s raw materials supply. Approved in 2022, the project’s capital investment has risen, but costs are expected to decrease in 2026 following the completion of construction and development phases.
In the first quarter of 2025, significant progress was made at the Kokkola lithium refinery, where main equipment installation was finalized, and office and laboratory buildings were approved for use. Hot commissioning of the refinery is scheduled for the first half of 2026, which will reduce Sibanye-Stillwater’s capital commitments to below R15 billion ($823.1 million), improving annual cash flow. As of Q1 2025, total project expenditure reached €508 million.
Pre-commissioning activities began in Q1 2025, with cold commissioning planned for Q2. The project’s second phase, involving the Päiväneva concentrator and Syväjärvi open-pit mine, is advancing. All key permits have been secured, though some conditions remain under review. The Rapasaari-Päiväneva environmental permit became legally valid in April 2024, with certain conditions submitted for further review in Q1 2025.
To address potential delays in the Rapasaari permit, the Syväjärvi mine is planned to supply all feedstock to the concentrator for the first five years, per an updated production schedule. The hearing process for the Päiväneva concentrator permit concluded in Q1 2025, with a decision expected in Q2. While the permit allows construction, production depends on a final, enforceable decision.
The Keliber project’s progress reflects Sibanye-Stillwater’s commitment to advancing lithium production to meet growing demand for battery materials. The cost revision and ongoing permitting efforts demonstrate the company’s proactive approach to navigating regulatory and market challenges while ensuring the project’s long-term viability.
In February 2025, Sibanye-Stillwater also signed a chrome management agreement with Glencore’s Merafe Venture in South Africa, further diversifying its operations. The Keliber project’s strategic importance and continued development position it as a key contributor to Europe’s sustainable energy transition.
