State to inject EUR 40 million in capital into Finnish Minerals Group for ramp-up of Keliber lithium project
Additional capital totalling EUR 200 million will enable the gradual ramp-up of the project. Keliber is the first lithium project in Europe with integrated production from mine to refinery.
The Government has decided to invest EUR 40 million in Finnish Minerals Group, a state-owned special assignment company, for the ramp-up of the Keliber project. Finnish Minerals Group and the main owner of Keliber, the South Africa-based Sibanye-Stillwater Group, have agreed on a total of EUR 200 million in additional funding, with each shareholder injecting capital in proportion to its shareholding. The additional funding will be used for the gradual ramp-up of Keliber’s mining and processing operations.
The Keliber project utilises lithium deposits located in Central Ostrobothnia. Once the project is completed, the company will be able to produce 15,000 tonnes of battery-quality lithium hydroxide per year at its refinery in Kokkola.
“Keliber is the first lithium project under construction in Europe, making it significant at both the Finnish and European levels. The project has been designated a Strategic Project under the EU’s Critical Raw Materials Act (CRMA),” said Minister for European Affairs and Ownership Steering Joakim Strand.
“The Keliber project, which is one of the key projects in Finland’s National Battery Strategy, utilises Finland’s mineral resources and increases added value. At the same time, it improves Finland’s and the EU’s self-sufficiency with regard to critical raw materials. I am very pleased that the European Investment Bank has also contributed EUR 150 million to the project,” says Minister of Economic Affairs Sakari Puisto.
Inquiries: Benina Uotinen, Special Adviser, tel. +358 295 160 040, Maija Strandberg, Director General, tel. +358 50 407 8423, Minna Pajumaa, Senior Ministerial Adviser, tel. +358 295 160147
The email addresses of the Finnish Government are in the format [email protected]