Sibanye seeks EU support for Finnish lithium mine
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South Africa’s Sibanye Stillwater said on Monday it is seeking concessions from the European Union as it ramps up Europe’s first large-scale lithium mining and processing venture in Finland. The company wants support to shield the project from price volatility and unfair competition while it moves ahead in phases.
Sibanye began mining lithium ore at the Syväjärvi open-cast mine in February and plans to commission a concentrator in the third quarter of 2026. The facility is expected to produce about 140,000 metric tons of spodumene concentrate a year, marking a major step in the group’s Keliber lithium project.
A decision on whether to commission a refinery to produce about 15,000 metric tons of battery-grade lithium hydroxide annually is expected in the third quarter and will depend heavily on talks with the EU. Mika Seitovirta, Sibanye’s chief European adviser, said the company is looking for a floor price and other forms of protection against unfair competition and trade risks.
The push comes as the EU seeks to reduce dependence on Chinese-dominated strategic mineral supplies through its Critical Raw Materials Act. Sibanye argues that the refinery, if completed, would be a strategic asset that should be protected from oversupply and market manipulation, including from China.
Chief executive Richard Stewart said the company wants assurances that shareholders will not carry all the risk if market conditions turn against the project. The broader message is that Europe’s battery-material ambitions may depend not only on mining and processing capacity, but also on policy support strong enough to keep new projects viable.
