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| Russia to become self-sufficient in ‘critical’ mineral | Russia to become self-sufficient in ‘critical’ mineral |
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| The country plans to extract 45,000 tons of lithium annually, a Rosatom representative has revealed | The country plans to extract 45,000 tons of lithium annually, a Rosatom representative has revealed |
| Russia is focusing on lithium production and is gearing up to commence extraction of the valuable mineral at a major deposit located on the Kola Peninsula in the Arctic region, according to the head of the business department at Rosatom subsidiary TVEL. | |
| Mikhail Metyolkin told reporters on Thursday that the strategic move reflects Russia’s ambition to join the ranks of the world’s leading producers of the sought-after ‘white gold.’ | |
| The country plans to extract 45,000 tons of lithium annually from the Kola deposit, which will be enough to cover domestic demand, he explained. | |
| “Rosatom has made the first step towards launching lithium production by obtaining a license on the Kola Peninsula. Polar Lithium is a joint venture with [nickel producer] Norilsk Nickel,” Metyolkin said. | “Rosatom has made the first step towards launching lithium production by obtaining a license on the Kola Peninsula. Polar Lithium is a joint venture with [nickel producer] Norilsk Nickel,” Metyolkin said. |
| There is a growing demand for lithium worldwide since it is used to make lithium-ion batteries, which are vital for most consumer electronics, as well as electric vehicles. The UN has described these batteries as “the critical pillar for building a fossil fuel-free economy,” and Russia has vast reserves of their base materials. | There is a growing demand for lithium worldwide since it is used to make lithium-ion batteries, which are vital for most consumer electronics, as well as electric vehicles. The UN has described these batteries as “the critical pillar for building a fossil fuel-free economy,” and Russia has vast reserves of their base materials. |
| Metyolkin added that soon, Russia will launch extraction of the metal at several other deposits. Moscow is bracing for a major development in its lithium industry, including the construction of full-cycle processing plants. | Metyolkin added that soon, Russia will launch extraction of the metal at several other deposits. Moscow is bracing for a major development in its lithium industry, including the construction of full-cycle processing plants. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |