South Africa’s Sibanye Stillwater said on Monday it is seeking concessions from the European Union to shield Europe’s first large-scale lithium mining and processing venture from price volatility and unfair competition.
Diversified miner Sibanye is advancing its Keliber lithium project in Finland in phases as it seeks to manage risk in a volatile pricing environment for the battery metal.
It began mining lithium ore at the Syväjärvi open-cast mine in February and plans to commission a concentrator during the third quarter of 2026, producing spodumene concentrate at a rate of about 140 000 metric tons annually.
A decision on commissioning a refinery to produce about 15,000 metric tons of battery-grade lithium hydroxide per year will be taken in the third quarter and largely depends on ongoing talks with the EU, including on a floor price, Mika Seitovirta, Sibanye’s chief European adviser, told analysts.
Boosting critical metal production
In 2024, the EU enacted the Critical Raw Materials Act to reduce its dependence on Chinese-dominated strategic metal supplies amid a shift towards cleaner energy.
The EU regulations seek to boost critical metal production within the bloc through accelerated permitting, as well as access to public grants and private financing.
“Could we have some price protection mechanism for unfair competition, for instance? That is, of course, something that we need to have,” Seitovirta said during Sibanye’s international capital markets presentation.
“We need more when it comes to investment risks and also when it comes to trade measures,” he added, citing U.S. tariffs and China’s metal export restrictions.
CEO Richard Stewart said Sibanye wanted assurances that factors including oversupply from China would not threaten its refinery operations.
“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,” he said.
- Sibanye Stillwater is seeking EU concessions to protect its Keliber lithium project in Finland from price volatility and unfair competition.
- The Keliber project is being developed in phases, with lithium ore mining started in February and a concentrator planned for commissioning in Q3 2026, targeting 140,000 metric tons of spodumene concentrate annually.
- A decision on building a refinery to produce 15,000 metric tons of battery-grade lithium hydroxide per year hinges on EU talks, including discussions on establishing a floor price for lithium.
- The EU's Critical Raw Materials Act aims to reduce reliance on China by boosting domestic critical metal production through faster permits, grants, and financing.
- Sibanye requests price protection mechanisms and trade measures from the EU to manage investment risks and shield its refinery from market disruptions and oversupply, particularly from China.
Diversified miner
It began mining lithium ore at the Syväjärvi open-cast mine in February and plans to commission a concentrator during the third quarter of 2026, producing spodumene concentrate at a rate of about 140 000 metric tons annually.
A decision on commissioning a refinery to produce about 15,000 metric tons of battery-grade lithium hydroxide per year will be taken in the third quarter and largely depends on ongoing talks with the EU, including on a floor price, Mika Seitovirta,
In 2024, the EU enacted the Critical Raw Materials Act to reduce its dependence on Chinese-dominated strategic metal supplies amid a shift towards cleaner energy.
"Could we have some price protection mechanism for unfair competition, for instance?
"We need more when it comes to investment risks and also when it comes to trade measures," he added, citing U.S. tariffs and China's metal export restrictions.
CEO Richard Stewart said
"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," he said.
