Keliber lithium project in Finland: capex, schedule and ramp-up notes for engineers
Reviewed by Tom Sullivan

First reported on MINING.com
30 Second Briefing
Construction of Sibanye-Stillwater’s Keliber integrated lithium project in Finland remains on schedule for Q1 2026 completion, with total capex for the construction phase estimated at about €783 million. The mine-to-market operation is designed to produce roughly 15,000 tonnes per annum of battery-grade lithium hydroxide monohydrate for more than 18 years and is classified by the EU as a strategic project under the Critical Raw Materials Act. Sibanye and 20% partner Finnish Minerals Group will adopt staged commissioning of the mine, concentrator and refinery to reduce ramp-up risk and defer refining capex in response to lithium market conditions.
Technical Brief
- Staged commissioning explicitly sequences mine and concentrator ahead of refinery to validate upstream performance.
- Refinery start timing will be flexed against lithium price signals and broader market conditions.
- Staged ramp-up structure allows deferral of a portion of refining capex and operating ramp-up costs.
Our Take
Sibanye-Stillwater’s commitment to the Keliber lithium project in Finland comes less than a year after it walked away from the $490 million Rhyolite Ridge deal with Ioneer in the US, signalling a strategic pivot towards lower-permitting-risk, EU-aligned lithium assets.
With Finnish Minerals Group holding a 20% equity stake, Keliber embeds EU industrial-policy interests directly into the ownership structure, which likely strengthens its position for future European battery and strategic-raw-materials funding mechanisms compared with fully private peers.
An 18‑year lithium hydroxide monohydrate production horizon in Europe positions Keliber as one of the longer-life lithium chemicals assets in our database, which could pressure higher-cost or shorter-life projects in regions such as the US and Latin America when supply tightens.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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