Sibanye-Stillwater ( SBSW ) said Thursday it will exercise its pre-emptive right to increase its shareholding in Finnish lithium firm Keliber to 50% plus one share at a cost of €146M ($152.4M), Reuters reports.
Sibanye ( SBSW ) also will offer to buy minority shareholders out to boost its stake above 80%, which would entail a maximum possible overall cost of €446M.
Keliber aims to be the first fully-integrated lithium producer in Europe, targeting first production in 2024 and ramping up to produce ~15K metric tons/year of lithium hydroxide.
Keliber said the financing from Sibanye ( SBSW ) will allow it to start construction in the summer and to place orders for equipment upon receipt of required environmental permits.
Seeking Alpha contributor JR Research views Sibanye-Stillwater ( SBSW ) as a Speculative Buy in a recently published analysis .
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Sibanye-Stillwater to boost stake in Finnish lithium company to 50%