HPP advised Finnish Minerals Group in a financing arrangement where its portfolio company Keliber Oy received a 40 MEUR financing for its lithium hydroxide project in Central Ostrobothnia, Finland. In the first phase of the financing arrangement South-African company Sibanye-Stillwater subscribed to shares in Keliber for EUR 15 million, and the current Keliber shareholders subscribed to shares for EUR 10 million. In addition, Sibanye-Stillwater has the option to later subscribe for Keliber Oy’s shares for a total of EUR 15 million. The investment of Finnish Minerals Group in the arrangement was EUR 3.80 million.
Finnish Minerals Group is a special-purpose company wholly owned by the State of Finland whose mission is to responsibly maximise the value of Finnish minerals. It manages the State’s mining industry shareholdings and strives to develop the Finnish value chain of lithium-ion batteries. In addition, Finnish Minerals Group is engaged in long-term technology development of the mining and battery industry.
