Sibanye-Stillwater's Keliber lithium project in Finland has entered production after three years of construction costing over €780 million. The site produces Europe's first domestic battery-grade lithium hydroxide for electric vehicle batteries. CEO Richard Stewart highlighted the company's strategic focus on battery metals during a presentation in Helsinki on April 20, 2026.
Sibanye-Stillwater, originally a spin-off from Gold Fields focused on South African gold mines, has diversified into new commodities. Its Keliber project in Finland marks Europe's first fully integrated source of battery-grade lithium hydroxide, essential for electric vehicles and energy storage. Construction took three years and exceeded €780 million in cost.
The project aligns with the EU's Critical Raw Materials Act, earning designation as a Strategic Project to secure supplies for climate goals. Sibanye also operates the Stillwater mine in the US, the sole producer of platinum group metals there, used in catalytic converters for internal combustion engines.
During a capital markets presentation in Helsinki on April 20, 2026, CEO Richard Stewart stated the company "did take a view on geographies with battery metals." He added, "It was never about a hedge. We have not seen it as one or the other. We think both technologies are going to exist for a long time."
Battery electric vehicle registrations in Europe rose 30% in the first quarter of 2026 to nearly 560,000 units, per E-Mobility Europe and New AutoMotive. Forecasts indicate lithium supply deficits by 2028, with demand potentially exceeding 13 million tonnes by 2050, according to Wood Mackenzie.