Russia Prioritizes Lithium and Critical Mineral Extraction
President Vladimir Putin emphasizes the urgency of expediting the extraction of Russia's significant lithium and rare earth mineral deposits. With an estimated 1 million tons of lithium reserves, Russia aims to reduce its reliance on imports and establish domestic production.
Putin stresses the importance of lithium for producing high-capacity electric vehicle batteries and advocates for the development of Russian rare earth metals essential for electric motors and other advanced technologies. The country has 3.5 million tons of lithium oxide reserves and is nearing control of a major Ukrainian lithium deposit.
In 2023, Russia extracted 27 tons of lithium as a byproduct from an emerald deposit in the Urals. Demand for lithium continues to rise as Russian companies pursue mass production of lithium batteries and electric vehicles.
Putin highlights the need for self-sufficiency in all critical minerals, including rare earth metals used in various electronic applications. Polar Lithium, a joint venture between Nornickel and Rosatom, is accelerating its lithium production project in the Kolmozerskoye deposit.
Previously reliant on imports from Chile and Argentina, Russia has sourced lithium carbonate from Bolivia and China. However, the recent U.S. sanctions on Polar Lithium underscore the urgency of domestic production.