Replies to post #520 on Sibanye Stillwater (SBSW)

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Sibanye-Stillwater to Increase Stake in Finnish Lithium Project to 50% for EUR146 Million
June 30 2022 - 03:19AM
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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.

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