Sibanye-Stillwater announced that, subsequent to securing an effective controlling interest of approximately 85% in Keliber Oy (Keliber) as announced on 3 October 2022, the Board of Sibanye-Stillwater has approved capital expenditure of €588 million for the Keliber lithium hydroxide project (Keliber project), beginning with the construction of the Kokkola lithium hydroxide refinery (the Kokkola refinery). The Kokkola refinery will be located at the Kokkola industrial park in Finland, a world-class industrial and logistics hub, strategically positioned to supply the growing European battery sector. The construction of the Kokkola refinery marks the first phase in the development of Keliber's wholly owned, advanced, Keliber project, located in the Central Ostrobothnia region of Finland, one of the most significant lithium-bearing areas in Europe.

Four initial open cast and three underground, highly mechanised mining operations, (primarily Syväjärvi and Rapasaari, with Emmes, Outovesi, and Länttä towards the end of the project life), situated across three municipalities (Kaustinen, Kokkola and Kronoby), are planned to supply ore to the Päiväneva concentrator which will be situated close to the Rapasaari mine. Concentrate produced at the Päiväneva concentrator is planned to be trucked approximately 66 kilometers to the Kokkola refinery. The Kokkola refinery is forecast to produce an average of 15,000 tonnes of battery grade lithium hydroxide monohydrate per year.