Keliber Lithium Project Capex Rises 17% as Sibanye Builds Strategic EU Supply Chain

Keliber

Keliber’s cost increase highlights challenges of non-Chinese battery chain development

Keliber lithium project capex has risen by 17% to €783 million ($882 million), according to South Africa–based Sibanye Stillwater. The Keliber project, located in Finland, is a fully integrated mine-to-hydroxide operation targeting up to 15,000 tonnes per year of battery-grade lithium hydroxide. The revised capital expenditure includes full development, construction, and refinery commissioning.

EU backs project with strategic designation and green financing

The European Commission designated Keliber as a “strategic project” under the Critical Raw Materials Act, alongside Sibanye’s GalliCam initiative. The project secured up to €500 million in green financing, including a €150 million loan from the European Investment Bank. These efforts reflect the EU’s push to localize lithium processing and reduce dependency on China in the battery materials supply chain.

Commissioning on track for 2026 amid broader EU battery ambitions

Sibanye confirmed that construction of the Keliber refinery is nearing completion, with hot commissioning scheduled for Q1 2026. Meanwhile, its GalliCam project—focused on producing precursor cathode active materials—will complete its pre-feasibility study by Q4 2025. The Keliber lithium project capex update highlights rising costs in Western battery investments, driven by stricter ESG, permitting, and labor frameworks compared to China.

The Metalnomist Commentary

The Keliber cost increase underscores the financial intensity of reshoring critical minerals infrastructure in Europe. However, EU-backed strategic designation and financing signal strong institutional support for supply chain sovereignty in battery materials.