Sibanye Stillwater Says Finnish Minerals to Boost Keliber Project Share to 20%
25 Avril 2023 - 2:11PM
Dow Jones News
By Ian Walker
Sibanye-Stillwater Ltd. said Tuesday that the Finnish Minerals
Group, which manages the Finnish State's mining industry
shareholdings, has agreed to subscribe 53.9 million euros ($59.6
million) and increase its shareholding in the Keliber lithium
project to 20% from 14%.
The South African precious-metals mining company said it will
retain a 79% interest in the project, with minority shareholders
owing the rest.
"The progress made on the project since it was approved last
year, is very encouraging, while the support shown by the Finnish
Minerals Group for the project, through this additional
subscription, is a substantial vote of confidence in the project,"
Sibanye's Head of Europe Mika Seitovirta said.
The investment is part of a EUR104 million rights issue to fund
the project.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
April 25, 2023 07:56 ET (11:56 GMT)
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