Lithium mining planned to start in Finland in 2015

Keliber Oy reports excellent test drilling results and is raising finance for lithium mining in western Finland.

The Finnish mining company Keliber Oy is planning to start operations at its Ullava lithium mine in 2015 if the funding is in place, according to the company’s CEO Olle Sirén. Keliber is aiming to raise EUR 60 million from a share issue or private equity investors. Keliber is owned by Finnish private investors and investment companies (62%) and Norwegian Nordic Mining ASA (38%).

Keliber Oy is engagedin searching for and developing spodumene-rich pegmatite deposits in the Central Ostrobothnia region in western Finland. The company has a valid mining licence for a deposit in Ullava and claims on more than other 20 areas for other spodumene-bearing pegmatite deposits, covering a total area of more than 2500 hectares.

Mine life estimated in decades

According to Sirén, Keliber has carried out about 7km of test drilling this year with excellent results. The Geological Survey of Finland has also estimated that the known mineral deposits in Central Ostrobothnia would be large enough to support mining for several tens of years.

The demand for lithium is expected to increase rapidly in the future due the growing demand for batteries for mobile devices, cordless tools and electric cars. A new method has been developed for lithium processing which produces almost 100% pure lithium as a raw material for the battery industry.

Source: Tekniikka & Talous, Keliber Oy