Keliber Oy Leads Europe's First Integrated Lithium Mining and Processing Project Amid Controversial Public Funding Dynamics
Keliber Oy is spearheading Europe's first integrated lithium mining and processing project in Finland, having attained 'strategic' status under the EU's Critical Raw Materials Act, which eases access to public funding. This initiative aligns with the EU's broader industrial policy aimed at investing €100 billion in clean technologies, although concerns persist regarding the prioritization of corporate profits over environmental and social objectives. The effectiveness of the InvestEU Fund in addressing public needs is under scrutiny, with only a small percentage of investments directed towards social services.
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Keliber Oy operates lithium mines in Finland's Kaustinen region and has received 'strategic' status under the EU's Critical Raw Materials Act, facilitating easier access to public funding. The company is part of a broader initiative driven by the Antwerp Declaration, which calls for deregulation and increased public support for corporate investments.
The EU's new industrial policy, presented in February 2025, aims to channel €100 billion into clean technologies and digital infrastructure, amidst concerns over prioritization of corporate profits over environmental and social objectives. The European Investment Bank (EIB) is expected to play a significant role in this plan, with an increased lending capacity and focus on technological innovation rather than socioeconomic transformation.
The InvestEU Fund's effectiveness in addressing public needs remains questionable, as recent data show only 6.4% of investments target social services. There are calls for public banks to better align investments with long-term social and environmental goals.
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