Finnish
Minerals
Group

15/02/2019

Finnish Minerals Group strengthens its investment in battery minerals and becomes Keliber Oy’s largest owner

Finnish Minerals Group is making further investments into developing the Finnish mining industry and the value chain of lithium-ion batteries with a significant participation in Keliber Oy’s share issue.

Finnish Minerals Group, together with the other shareholders of Keliber Oy, participated in a financing round totalling EUR 10 million, which resulted in Finnish Minerals Group investing EUR 6.0 million in Keliber Oy. With the investment, Finnish Minerals Group’s holding in Keliber Oy will increase to 24.3 percent from the current 17.6 percent stake. Finnish Minerals Group will make the investment by subscribing for Keliber Oy’s B shares.

Keliber Oy is a Finnish mining company with an objective of producing high-purity lithium chemicals especially for the needs of the manufacturers of lithium-ion batteries, used in electric cars. The lithium-ion battery market is growing worldwide as traffic is becoming increasingly electric and the battery needs of a number of industries are increasing. The long-term objective of Keliber is to produce at least 11,000 tonnes of lithium chemicals per year.

The objective of the round of financing is to enable starting the pre-planning of Keliber’s lithium chemical investment, arranging funding and conducting additional drillings.

“We continue our work to secure the required permits and commence detailed engineering for the construction of our Lithium Project. We also have strong focus in the implementation of our product and market strategy and negotiations with our potential customers. Preparations for financing the construction stage of our project are proceeding as planned in co-operation with our appointed advisors”, says Pertti Lamberg, CEO of Keliber Oy.

“Keliber is the furthest advanced of the European lithium mine projects. The company’s goal is to process the raw materials it produces into lithium chemicals and Keliber’s plant built in Kokkola will become the only lithium refinery in the EU. The lithium chemicals produced by the company are essential ingredients for electric vehicle batteries. The rapidly developing battery industry offers a unique opportunity for Finland to maximise the value of raw materials by creating a well-functioning and comprehensive value chain for electric car batteries. As a producer of lithium chemicals, Keliber plays a significant role in this value chain. An investment into Keliber is an investment into the Finnish battery value chain,” says Matti Hietanen, CEO of Finnish Minerals Group.

Additional information

Matti Hietanen, CEO, Finnish Minerals Group, Tel: +358 40 823 8806, matti.hietanen@mineralsgroup.fi

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Finnish Minerals Group is a special-purpose company developing the Finnish battery and mining ecosystem. We operate as a long-term strategic owner of Terrafame Ltd and other battery and mining cluster holdings, manage the mining and battery investment programme, develop battery value chain initiatives, and coordinate R&D projects. Visit: www.mineralsgroup.fi.


 Keliber Oy is a Finnish mining and chemicals company with an objective of producing high-purity lithium chemicals especially for the needs of the lithium battery market. www.keliber.fi