Sibanye Seeks EU Support for Finland's First Large-Scale Lithium Mine
Sibanye Stillwater is pursuing concessions from the EU to safeguard its Keliber lithium project in Finland from market volatility. This initiative is crucial as the EU aims to bolster domestic lithium production and reduce reliance on Chinese sources amid rising demand for battery materials.
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Sibanye Stillwater is advancing its Keliber lithium project in Finland, which began lithium ore mining in February 2026, with plans to establish a concentrator by Q3 2026, targeting an annual production of 140,000 metric tons of spodumene concentrate. A decision regarding the commissioning of a refinery for 15,000 metric tons of battery-grade lithium hydroxide will occur in the same quarter and hinges on discussions with the EU for price protections and trade safeguards amid increasing global competition.
The EU's Critical Raw Materials Act, enacted in 2024, aims to reduce dependence on Chinese supplies and encourage local production through expedited permitting and financial support. Sibanye's leadership emphasizes the necessity for protective measures against market fluctuations and oversupply risks, particularly from China, as it seeks to position itself strategically within the evolving battery metal landscape. Potential supply deficits in lithium and PGMs could impact market stability and profitability as global demand rises significantly by 2050.
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