Finnish mining and battery chemical company Keliber has updated the ore reserves estimate for the Rapasaari lithium deposit in Finland, increasing it by 55%.
The updated ore reserves estimate for the Rapasaari deposit has an effective date of August 31. It is based on the revised mineral resource estimate that the company published in May, increasing ore reserves by 55% as compared to the previous estimate that was published in December 2019. The estimated proved and probable ore reserves at the Rapasaari deposit now total 8.21Mt at an average lithium oxide (Li2O) grade of 0.89%, compared to the December 2019 estimate of 5.28Mt at an average Li2O grade of 0.94%.
Keliber's total proved and probable ore reserves have increased from 9.37Mt at an average grade of 0.98% to 12.30Mt at an average grade of 0.94%, representing a growth of 32%, using a cut-off grade of 0.4% Li2O for the open-pit ore reserves and a cut-off grade of 0.4-0.7% Li2O for the underground ore reserves. The Rapasaari deposit represents 67% of Keliber's total ore reserves.
The company's goal is to begin the sustainable production of battery-grade lithium hydroxide, utilising its own ore, in 2024. In June, it awarded a process engineering services contract to FLSmidth for its Päiväneva lithium concentrator plant.
Hannu Hautala, CEO of Keliber, commented: "In May, we reported on the significant growth of the mineral resources of the Rapasaari lithium deposit, which raised expectations for excellent numbers regarding the ore reserves. The increase of more than 50% at Rapasaari will extend the life of Keliber's planned mining operations by more than two years.
"By continuing our exploration activities and systematic drilling programme, we will ensure Keliber's position as a lithium hydroxide producer well into the future."
