Sibanye-Stillwater to Increase Stake in Finnish Lithium Project to 50% for EUR146 Million
30 Juin 2022 - 9:19AM
Dow Jones News
By Jaime Llinares Taboada
Sibanye-Stillwater Ltd. said Thursday that it will increase its
shareholding in the Keliber lithium project in Finland from 30.29%
to 50% plus one share at a cost of 146 million euro ($152.4
million).
Sibanye-Stillwater entered the project in 2021 and now intends
to exercise its pre-emptive right to increase its shareholding to
50% plus one share.
In addition, the mining company said it will make a voluntary
cash offer to increase its stake to 80%, and that the Keliber
holding company will execute a capital raise. The overall
transaction entails a maximum possible cost to Sibanye-Stillwater
of EUR446 million, it said.
"We look forward to partnering with our Finnish stakeholders to
build the Keliber project, which will be the first mining and
metallurgical operation in Europe to deliver high quality, low-cost
lithium hydroxide with a low carbon footprint," Chief Executive
Neal Froneman said.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
June 30, 2022 03:04 ET (07:04 GMT)
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