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NOM- to start building Europe's largest lithium mine

Keliber to start building Europe's largest lithium mine 2018

Markku Björkman - 05 Aug 2017
However, there are a lot of stumbling blocks that must be removed before the mine can become a reality. The company need at least 170 million more euros and only the half of the licenses are confirmed, reports Finnish broadcaster Yle.

The mining company Keliber has two major challenges ahead of the construction of the mine in Kaustby can begin. To obtain building permits and arrange financing.

According to Yle, Keliber plans to begin the construction of the mine in the fall of 2018. Environmental conditions and mining conditions are still partially under preparation or treated as best.

Keliber expects to get building permits early next year and 2019, the mining operations could begin.

In terms of funding, a total of 170 million euros has to be collected.

- An alternative is to list the company on the stock exchange. Keliber's board is still considering various opportunities, and a proposal is a listing, "said Keliber's CEO Pertti Lamberg.

Some investors have been included, including the PPO investment share and some Finnish private individuals. You are also negotiating with foreign investors.
In the area around Kaustby and Karleby there are four different lithium deposits where Keliber plans to start a break in the day.

The production plant is planned to be built in Kalavesi five kilometers from Kaustby center towards Toholampi.
The raw material spodumen is a mineral that contains lithium. In the production plant, lithium carbonate is to be extracted from spodumen.

The company would employ about 120 people and the mines would indirectly provide approximately 300 people.

Keliber estimates that the minerals in the area would suffice for lithium production for 10 to 20 years.

According to the latest profitability calculations, Keliber estimates that the price of lithium carbonate should be between 4000 and 5,000 dollars per tonne before the company is ready to open the mine.

Source: Yle