MINEX Forum

Tag: lithium

  • Sibanye Stillwater Reaffirms Battery Metals Strategy Despite Keliber Impairment

    Sibanye Stillwater Reaffirms Battery Metals Strategy Despite Keliber Impairment

    South African mining group Sibanye Stillwater remains committed to its battery metals strategy despite recording an additional 2.46 billion rand ($152.6 million) impairment on its Keliber lithium project in Finland, CEO Richard Stewart said during a results call.

    The company, which began in 2013 with three gold mines before expanding into platinum group metals, has in recent years diversified into lithium, nickel and zinc as part of a strategic shift toward metals used in renewable energy and decarbonization technologies.

    In 2025, Sibanye booked total impairments of 7.8 billion rand on Keliber, reflecting a weaker long-term price outlook for lithium hydroxide. The asset is currently valued at approximately 9 billion rand. Earlier in February 2025, the company also withdrew plans to invest in the Rhyolite Ridge lithium project in the United States after lithium prices declined sharply.

    Stewart said the group’s long-term strategy remains focused on supplying critical metals that support the global energy transition. At Keliber, Sibanye has opted for a phased production approach, beginning with spodumene concentrate while deferring potential production of battery-grade lithium hydroxide until market conditions improve.

    He added that policy initiatives by the European Union and the United States to reduce reliance on Chinese battery metals could improve the long-term pricing environment for projects such as Keliber.

    Financially, Sibanye reported headline earnings of 2.44 rand per share in 2025, compared with 0.64 rand the previous year. The improvement was driven by stronger commodity prices, including a 39% increase in the average rand gold price and a 28% rise in the average South African platinum group metals basket price.

    The stronger performance enabled the diversified miner to declare its first dividend since 2023.

  • France Takes Minority Stake in Imerys’ €1.8bn Emili Lithium Project

    France Takes Minority Stake in Imerys’ €1.8bn Emili Lithium Project

    France will invest €50 million in a minority stake in Imerys’ flagship Emili lithium project, marking a significant step in the country’s strategy to secure domestic battery raw materials.

    The investment, announced on Wednesday, will support feasibility studies ahead of a final investment decision. Production is currently targeted for 2030. Imerys CEO Alessandro Dazza said additional investors are expected to join the project as financing discussions progress.

    First unveiled in 2022, the Emili project aims to produce 34,000 tonnes of lithium hydroxide annually, enough to supply batteries for around 700,000 electric vehicles each year. The project involves developing an underground lithium mine beneath an existing kaolin site in central France, alongside a dedicated processing facility.

    Imerys has revised its total project cost estimate upward to €1.8 billion from an initial €1 billion forecast. However, Dazza indicated the final capital requirement is likely to come in significantly below the updated estimate.

    While the company may not retain a majority stake once new investors enter, Dazza stated that Imerys considers itself the natural operator of the future mine.

    The production timeline was pushed back from 2028 to 2030, partly due to public debate surrounding environmental concerns. The project is widely seen as a cornerstone of France’s efforts to reduce reliance on imported lithium and strengthen Europe’s battery supply chain.

  • Austria Extends Mining Licence for Wolfsberg Lithium Project, Boosting Development Certainty

    Austria Extends Mining Licence for Wolfsberg Lithium Project, Boosting Development Certainty

    A key regulatory step has been secured for the Wolfsberg lithium project in Austria, as national authorities granted a two-year extension to its mining licence, strengthening planning certainty for the project’s next development phases. The Wolfsberg project is linked to  and is located in the Carinthia region of southern Austria.

    The licence extension comes at a time of firmer lithium prices and heightened European efforts to secure domestic supplies of critical raw materials. While the regulatory approval provides a stable framework for continued project planning, the transition to production will still depend on external market and financing conditions.

    According to the company, the extended permit supports progress toward establishing a framework for a potential “Decision to Mine,” which is now targeted for completion by the end of 2026. However, any final investment decision will remain conditional on favourable lithium market pricing and the successful securing of project financing.

    Wolfsberg is considered a strategic asset for , which was formed following a business combination with European Lithium. The renewed licence is seen as a crucial enabler for advancing technical and commercial planning, though it does not remove the economic hurdles associated with bringing the project into production.

    The timing of the permit renewal aligns with broader European policy objectives aimed at strengthening raw material security. Wolfsberg is intended to produce spodumene concentrate for use in electric mobility and battery storage markets, in line with the EU’s push to localise supply chains under the .

    Alongside progress at Wolfsberg, European Lithium has recently taken steps to reinforce its corporate position, including divesting part of its stake in Critical Metals Corp. and announcing a diversification move through the planned acquisition of US-based Velta Holding, which owns titanium assets in Ukraine.

    For Wolfsberg, the next major milestone remains the targeted framework for a “Decision to Mine” by the end of 2026, provided market conditions and financing arrangements align.

  • A Strategic Assessment of Promise vs. Reality in Central Asia’s Mineral Development

    A Strategic Assessment of Promise vs. Reality in Central Asia’s Mineral Development

    Central Asia’s role in global critical minerals took a decisive turn at the 4 February 2026 Critical Minerals Ministerial in Washington, where officials from more than 50 countries acknowledged the region as a strategic hub rather than a geopolitical buffer.

    While Washington presented an ambitious framework to advance mineral sovereignty, analysts caution that the region—not the U.S.—must drive implementation to avoid becoming a passive arena for major‑power competition.

    U.S. Strategy: A Vertical Integration “New Order”

    The U.S. vision, centred on the FORGE initiative and the concept of “Pax Silica,” positions minerals and energy as shared strategic assets among trusted partners and offers an alternative to dependency on China.
    Washington differentiates its value proposition in three areas:

    1. Market Stability Through Price Floors
      Proposed tariff‑backed price floors aim to counter predatory market dumping and protect investments in assets such as Kazakhstan’s rare earth reserves.
    2. Vertical Value Integration
      The U.S. framework prioritises domestic processing and refining over raw‑ore exports, enabling Central Asian states to capture more value across the supply chain.
    3. Connectivity Autonomy
      By incorporating the Middle Corridor into initiatives like TRIPP, the West presents routes that bypass Russia and China, reducing geopolitical transit pressures.

    Kazakhstan and Uzbekistan have responded quickly—Kazakhstan has declared critical minerals the “new oil” and joined the Abraham Accords to strengthen supply‑chain integration, while Uzbekistan has pursued strategic MOUs to modernise mining and secure battery‑metal supply chains.

    Reality Check: Gaps Between Intent and Implementation

    Despite strong rhetoric, Western engagement has largely taken the form of frameworks and MoUs—not operational projects.

    Three challenges persist:

    • Operational Disparity – China continues to deliver turnkey, financed projects backed by contractors and long‑term offtake agreements, while Western partners emphasise declarations.
    • U.S. Inward Focus – Washington’s drive for techno‑economic sovereignty favours selective, de‑risked engagements rather than proactive industrial development in the region.
    • Execution Gaps – Uzbekistan’s $2.6bn program covering 76 projects illustrates regional ambition, but real progress requires partners capable of building at scale.

    Strategic Imperative: Central Asian Agency

    Experts argue that relying on future U.S. demand is a strategic mistake.
    To convert high‑level dialogue into economic gains, Central Asia must prioritise:

    1. Midstream Capabilities

    Refining and producing intermediary products offer higher margins and reduce reliance on long‑distance transport of low‑value raw ore.

    2. Direct Private‑Sector Engagement

    Regional firms should proactively present project‑ready opportunities to U.S. companies rather than depending on government‑to‑government frameworks.

    Conclusion

    The U.S. “New Order” provides Central Asia with a potential pathway to diversify away from Beijing and Moscow while improving price stability and long‑term sovereignty.
    But success hinges on regional execution. Astana and Tashkent must convert diplomatic signals into tangible midstream capacity—and do so quickly—to secure their strategic autonomy before the current window closes.

  • Germany Seeks Deeper Partnership With Australia on Critical Raw Materials

    Germany Seeks Deeper Partnership With Australia on Critical Raw Materials

    Germany is looking to strengthen its cooperation with Australia on the supply and development of critical raw materials, German Foreign Minister Johann Wadephul said on Thursday during an official visit to Canberra.

    Following talks with Australian Foreign Minister Penny Wong, Wadephul described Australia as a key partner for Germany in diversifying global supply chains. He highlighted the strategic importance of minerals extracted in Australia, particularly lithium, and said Berlin is keen to expand collaboration in the raw materials sector.

    Australia hosts some of the world’s most significant mineral resources, including the largest hard-rock lithium mine, located near the town of Greenbushes south of Perth. The site spans more than 2000 hectares and is responsible for roughly 20% of global lithium production. Lithium is a crucial component in lithium-ion batteries used in consumer electronics and electric vehicles.

    In addition to lithium, Australia holds substantial reserves of rare earth elements such as neodymium and terbium, which are essential for manufacturing permanent magnets used in electric motors and other advanced technologies.

    Wadephul acknowledged that closer cooperation in developing and exploiting mineral resources would require significant financial investment. He noted that extraction and processing of critical raw materials can be costly, but emphasised that Germany’s economy is particularly reliant on secure access to these resources.

  • Sibanye-Stillwater completes assessment of Keliber lithium project, confirms staged start-up plan

    Sibanye-Stillwater completes assessment of Keliber lithium project, confirms staged start-up plan

    Sibanye-Stillwater has completed a multidisciplinary assessment of its Keliber lithium project in Finland, confirming the project’s technical readiness and outlining a staged approach to commissioning amid current market conditions.

    The Keliber project is regarded as the European Union’s most advanced fully integrated lithium development, with planned production of around 15,000 tonnes per year of battery-grade lithium hydroxide monohydrate over a mine life exceeding 18 years. It is also one of the few lithium hydroxide refineries outside China and has been designated a strategic project under the EU’s Critical Raw Materials Act, reflecting its importance to the bloc’s battery supply chain.

    According to Sibanye-Stillwater, construction of the fully integrated mine, concentrator and refinery remains on track, with completion of the construction phase and cold commissioning expected in the first quarter of 2026. The total capital investment required to complete construction is estimated at approximately €783 million.

    Following the assessment, Sibanye-Stillwater and its strategic partner, Finnish Minerals Group, have agreed that a staged start-up represents the most prudent path forward. Under this approach, initial commissioning will focus on achieving operational readiness at the mining and concentrating stages before determining the timing for commissioning the refinery.

    The company said this phased strategy is intended to reduce ramp-up risks while preserving financial flexibility, allowing certain capital expenditures and refining ramp-up costs to be deferred depending on lithium market conditions. Finnish Minerals Group is preparing to contribute additional funding on a pro rata basis in line with its 20% equity stake to support the project through the ramp-up period.

    Sibanye-Stillwater CEO Richard Stewart said the agreed approach balances technical readiness with market realities, ensuring the project advances in a responsible and commercially disciplined manner while remaining positioned to supply locally produced lithium into the EU battery value chain.

  • Ukraine selects U.S.-linked consortium to develop Dobra lithium deposit

    Ukraine selects U.S.-linked consortium to develop Dobra lithium deposit

    Ukraine has chosen a consortium that includes U.S.-connected investors as the preferred bidder to develop the Dobra lithium deposit in Kirovohrad Oblast, according to a report by The New York Times. The decision was taken on January 8 by a government commission and is expected to receive formal approval from the Cabinet of Ministers, though officials say the outcome is effectively settled.

    The winning consortium includes TechMet, an energy investment company partly owned by a U.S. government-backed investment agency, and billionaire Ronald Lauder, a long-time associate of U.S. President Donald Trump. Commission members cited the consortium’s strong technical and financial proposal, saying it met most of the tender’s criteria and denying allegations of favoritism.

    The Dobra deposit is one of Ukraine’s largest known lithium resources and is considered strategically important for technologies such as electric vehicle batteries. Development will take place under a production-sharing agreement, allowing investors to extract lithium in exchange for sharing output with the Ukrainian state.

    Under a broader U.S.-Ukraine minerals framework, half of the revenue generated for Ukraine from the project is to be channelled into a joint investment fund. Companies seeking to develop mineral deposits are also required to first present their projects to this fund, a mechanism designed to attract U.S. investment.

    While the minimum investment threshold for the tender was set at $179 million, officials indicated that the consortium’s pledged investment exceeds that figure. The agreement предусматривает spending at least $12 million on geological exploration and $167 million on launching extraction and processing, alongside compliance with environmental standards, use of Ukrainian labour and goods, and investment in local communities.

    Before mining can begin, the consortium must complete detailed geological studies to confirm the deposit’s commercial value and then finance the necessary infrastructure. Industry experts note that moving from exploration to full-scale production typically takes more than a decade.

    The Dobra project is expected to become one of the first initiatives implemented under the U.S.-Ukraine minerals partnership, following the launch of a joint reconstruction investment fund earlier this year.

  • Portugal aims to launch lithium prospecting tender in 2025 with focus on local benefits

    Portugal aims to launch lithium prospecting tender in 2025 with focus on local benefits

    Portugal’s government plans to launch a long-delayed tender for lithium prospecting licenses later this year, as part of efforts to strengthen Europe’s battery materials supply chain while addressing local opposition to mining projects. Environment Minister Maria da Graca Carvalho said the government is preparing a national mining strategy to be finalized by the summer, with an emphasis on community involvement and regional value creation.

    Portugal currently holds around 60,000 tonnes of lithium reserves and is Europe’s largest lithium producer, though output has traditionally been used for ceramics rather than battery-grade material. Expanding into battery-quality lithium is seen as critical for reducing Europe’s dependence on imports and supporting the continent’s clean energy transition.

    Carvalho told Reuters that future mining projects would prioritize keeping economic benefits within the country, sharing revenues regionally and creating local jobs. She added that the government is reviewing international best Reed practices while moving quickly to unlock investment. The original tender was first planned in 2018 but was repeatedly delayed due to political instability, including the collapse of several governments. The current minority administration took office in March 2025.

    Regulatory progress has already been made on specific projects. Portugal’s environmental agency APA has granted initial approval for lithium extraction at the Barroso mine, operated by Savannah Resources, as well as the Montalegre project developed by local firm Lusorecursos.

    Separately, Carvalho commented on ongoing talks between Portuguese energy company Galp and private equity-backed Moeve regarding a potential merger of their oil refining businesses. If completed, the deal would create one of Europe’s largest refining groups, with a combined capacity of about 700,000 barrels per day. The Portuguese state currently holds an 8% stake in Galp.

  • European Metals submits full EIA for Cinovec lithium project in Czech Republic

    European Metals submits full EIA for Cinovec lithium project in Czech Republic

    European Metals Holdings has submitted the full environmental impact assessment (EIA) for its Cinovec lithium project to the Czech Ministry of the Environment, marking a key regulatory milestone and meeting an important condition tied to EU funding. The EIA was formally lodged on 31 December, completing the two-stage environmental assessment process that began with an initial screening submission earlier in the year.

    The filing covers the entire Cinovec development and aligns with the recently completed definitive feasibility study, which outlined a mine life exceeding 26 years and forecast annual production of about 37,500 tonnes of battery-grade lithium carbonate. The ministry will now begin its formal review, with public consultations and hearings expected later in the quarter.

    The submission also satisfies a core requirement of the EU Just Transition Fund grant awarded to the project. In April, Czech authorities approved CZK 800 million, around $36 million at the time, subject to the EIA being filed by the end of 2025 and approved by mid-2026. European Metals said the project remains on track to meet the full timetable.

  • Zinnwald Lithium advances German lithium project after planning assessment

    Zinnwald Lithium advances German lithium project after planning assessment

    Zinnwald Lithium has completed the spatial impact assessment for its proposed integrated lithium mining and processing project in Germany. The Saxony State Directorate concluded that the development concept outlined in the company’s pre-feasibility study is spatially compatible and the most favourable option for large-scale development.

    The concept предусматривает processing at Liebenau with ore transported via a conveyor tunnel. While the assessment does not constitute a development permit, it provides the planning framework needed to proceed to the environmental impact assessment and mining permitting stages under the Saxon Mining Authority. The milestone reduces regulatory risk and supports the project’s role in supplying lithium to Europe’s battery industry.