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Progress of the Keliber Lithium Project in Q4 2021 and Summary of Year 2021

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Keliber has today, 28 January 2022, published its Report on the Progress of the Lithium Project in Q4 2021 (October–December) and summary of year 2021.

The Keliber Progress Report Q4 2021 and summary of year 2021 and all quarterly reports are available on the company´s website.

Summary of year 2021

  • No accidents. Safety activity improved compared to 2020. Covid-19 had only minor effects on Keliber.
  • Detailed negotiations on offtake agreements continued and gained momentum. Project financing preparations were commenced.
  • Keliber and Sibanye-Stillwater entered into an investment financial agreement.
  • The Extraordinary General Meeting (EGM) approved a EUR 40 million share issue for the development of the project. Sibanye-Stillwater entered the capital, which secured the financing of Keliber’s lithium project until the investment decision in 2022.
  • The price of lithium hydroxide started to rise rapidly at the end of 2021 improving long-term forecasts.
  • The proved and probable ore reserves of Keliber’s largest lithium deposit, Rapasaari, increased by 55 per cent.
  • Zoning of the mine areas and the concentrator plant is in progress.
  • The decision on Syväjärvi’s environmental and water permits by the Vaasa Administrative Court gained legal force – preparatory work at the site began in late December.
  • The environmental permit application for the lithium chemical plant, Rapasaari mine and Päiväneva concentrator continued being processed by Regional State Administrative Agency of Western and Inland Finland (AVI).
  • Sweco was chosen as Keliber’s partner for Engineering, Procurement and Construction Management (EPCM) of the lithium project.
  • Keliber continued to recruit actively – staff count at the end of 2021 was 24 (2020: 15). In addition, 7 persons worked as direct consultants for Keliber.

Keliber in Brief

Keliber is a Finnish mining and battery chemical company that aims to start the sustainable production of battery-grade lithium hydroxide, utilising its own ore, in 2024.

www.keliber.fi/en

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