Sibanye Stillwater Seeks EU Protection for Lithium Mine
Sibanye Stillwater seeks EU price protections for its Finnish lithium project. The firm plans a 2026 launch while negotiating floor prices to manage risks.
South Africa's SIBANYE STILLWATER LTD is seeking concessions from the European Union to shield its Keliber lithium project in Finland from price volatility and unfair competition. The project is set to be the first large-scale lithium mining and processing venture within the region. The company is advancing the project in phases to manage risks in a pricing environment for battery metals that remains highly unpredictable.
Operations at the Syväjärvi open-cast mine commenced in February, with plans to commission a concentrator by the third quarter of 2026. This facility is expected to produce approximately 140,000 metric tons of spodumene concentrate annually. A final decision on a refinery capable of producing 15,000 metric tons of battery-grade lithium hydroxide per year is also expected in the third quarter of 2026, contingent on the outcome of negotiations with European officials regarding floor prices and trade protections.
Mika Seitovirta, Sibanye’s chief European adviser, emphasized the necessity of protective mechanisms during a presentation to analysts. He noted that the project requires safeguards to ensure its viability against external economic pressures.
\"Could we have some price protection mechanism for unfair competition, for instance?\"
The EU enacted the Critical Raw Materials Act in 2024 to reduce its reliance on strategic metal supplies dominated by China. These regulations aim to boost domestic production through accelerated permitting and improved access to financing. Seitovirta highlighted the need for further measures to address investment risks and trade imbalances, pointing to existing tariffs in the United States and export restrictions from China.
\"We need more when it comes to investment risks and also, when it comes to trade measures.\"
CEO Richard Stewart added that the company is seeking assurances to protect its refinery operations from oversupply and market manipulation. He argued that the strategic nature of the asset warrants a shared risk approach rather than leaving the burden solely on shareholders.
\"If there are games that get played in the market, help us protect what is a very strategic asset and not ask our shareholders to carry all of that risk.\"
