MOSCOW (Pakistan Point News / Sputnik - 19th April, 2023) The Russian Ministry of Natural Resources and Environment is planning to issue licenses for exploration of seven deposits of lithium ores containing other valuable minerals such as niobium, beryllium and tantalum in 2023-2024, the ministry told Sputnik on Wednesday.
"It is planned to provide seven deposits containing lithium ores, as well as other strategically scarce minerals, such as niobium, beryllium and tantalum, for use in 2023-2024. The deposits are located in the Murmansk and Irkutsk regions, the Republic of Tyva, the Republic of Buryatia, and the Zabaikalsky Territory," the ministry said.
The ministry added that Russia has one of the largest raw material bases of lithium in the world, ranking among the top five countries with largest reserves.
"The reserves of Russian lithium, accounted in the ores of 14 deposits, amount to 3.5 million lithium oxide. And some of the deposits are not inferior to the world class facilities, such as the recently licensed Kolmozersk and Polmostundra deposits in the Murmansk Region," the ministry said.
At the same time, the ministry believes that bottom waters from oil and gas fields may become a promising source of lithium, as technologies are being developed to extract the metal and other associated components from the formation brines of the Kovykta, Yarakta, and other fields.
Lithium raw materials from licensed deposits should ensure the production of high-tech products in Russia, primarily focused on renewable energy and electric transportation projects. Such national projects are being implemented today, for example, by Russian atomic energy agency Rosatom, the ministry added.
"Due to the significant recent growth in prices and demand for lithium on the world market, Russian raw lithium projects may have an interesting investment picture," the ministry said.
The ministry also said it has already taken additional measures to support investors in lithium projects. In addition, priority in licensing has been established and special conditions have been created to allow for deeper lithium processing.
In early February, the ministry said that Arctic Lithium, a joint venture of Rosatom and Russian metallurgical company Nornikel, received an exploration and production license for the Polmostundra lithium deposit in the Murmansk region. Nornikel also said that another venture jointly established with Rosatom received exploration permission for the Kolmozersk deposit in the same region.
