The company said the laying of the foundation stone marks the ceremonial launch of the Keliber lithium project, which is expected to supply the first integrated, regionally produced lithium into the European green energy ecosystem.

Earthworks for the Keliber lithium refinery began on March 7, 2023.

Sibanye-Stillwater currently owns approximately 79% of the Keliber project, while the Finnish Minerals Group, which manages the Finnish State's mining industry shareholdings, owns 20%.

The company expects €231 million (US$252 million) of the €588 million estimated total capital expenditure for the Keliber lithium project (excluding sustaining capital) to be spent this year.  

Neal Froneman, chief executive of Sibanye-Stillwater, said, "It is central to Sibanye-Stillwater's business ethos to create superior shared value for all our stakeholders. In addition to delivering critical green metals into the European ecosystem, the Keliber lithium project is expected to provide employment for over 300 people over its current expected life of 16 years. The project will also create new opportunities for local suppliers of goods and services and is acknowledged as a significant contributor to the future growth of the local economy."

According to previous reports, the anticipated production will be 15,000 tonnes of lithium hydroxide monohydrate. Keliber will source spodumene concentrate from outside suppliers at first. Once the concentrator plant is commissioned, the company will produce spodumene concentrate from its own ore.