According to bestmag. Here’s a quick breakdown of Russia’s ambitious lithium production strategy:
- Production Target: 60,000 metric tons of lithium carbonate by 2030.
- Lithium Oxide Reserves: Approximately 3.5 million tons across three federal districts.
- Global Ranking: Estimated to be the 14th largest lithium reserve holder globally in 2024.
- Key Deposit: Kolmozerskoye in the Murmansk region, holding 25% of Russia’s lithium reserves.
- Major Players: Polar Lithium (joint venture betweenNornickel and Rosatom) and Chinese-owned MCC International.
Russia’s Lithium Production Strategy
Russia’s Ministry of Natural Resources (MNR) has announced plans to produce 60,000 metric tons of lithium carbonate by 2030. This initiative is part of the Kremlin’s broader strategy to reduce dependency on imports and boost the production of high-capacity electric vehicles (EVs).
Lithium Reserves Across Russia
Russia holds an estimated 3.5 million tons of lithium oxide, concentrated in three key federal districts:
- Siberia: 43% of the country’s reserves.
- Northwest Region: 34.4% of the reserves.
- Far-Eastern Region: Nearly 23% of the reserves.
According to the US Geological Survey, Russia’s lithium reserves are projected to reach 1 million tons in 2024, placing it as the 14th largest lithium reserve holder globally.
Kolmozerskoye: Russia’s Largest Lithium Deposit
The Kolmozerskoye deposit in the Murmansk region is Russia’s largest lithium reserve, accounting for 25% of the country’s balance reserves. Operated by Polar Lithium, a joint venture between Russian metals giant Nornickel and state-owned nuclear firm Rosatom, this deposit is estimated to contain 844,200 tons of lithium.
International Collaboration in Lithium Development
In August 2024, Chinese-owned MCC International joined the lithium development efforts in Russia, as reported by the Barents Observer. This move aligns with global efforts to counter China’s dominance in the lithium market, particularly after former US President Trump proposed production deals with Russia and Ukraine.
Tax Reductions to Boost Lithium Production
To accelerate lithium production, the Russian MNR has reduced taxes on mineral extraction. This policy aims to incentivize industrial lithium production, which is set to commence in 2030.
Future Outlook
Lithium, alongside rare earth metals, has gained significant attention in recent months due to its role in EV batteries and renewable energy technologies. By increasing domestic lithium production, Russia aims to strengthen its position in the global market and reduce reliance on foreign imports.
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