Russia Could Become One of the World's Top 5 Lithium Producers

Russia has lithium ore reserves of approximately 10% of the world's total

Due to sanctions, Russia has faced a shortage of lithium, which was imported into the country. However, domestic lithium reserves are so large that Russia could become one of the top 5 producers of this metal in the next 10 years by developing its own deposits.

By developing existing deposits, Russia could become one of the top 5 largest producers [of lithium] in the next decade, second only to Chile, Argentina, China, and Australia. In the future, production volumes could grow even more if the lithium extraction technologies from solutions developed in the Russian Federation are effective.
Roscongress

Experts believe that Russia has lithium ore reserves of approximately 10% of the world's total. At the same time, the country has been completely dependent on lithium imports since 1997, when the mine in the Krasnoyarsk Territory was closed. Experts explained that since last year, Russia has faced difficulties in import purchases when Argentina and Chile refused to supply lithium.

Experts also noted that the cost of lithium in the world is steadily declining: if in December 2022 lithium hydroxide cost 85 thousand dollars per ton, now the price has fallen below 35 thousand dollars per ton. But even if the price drops to 20 thousand dollars per ton, lithium projects in Russia will be profitable.

2023-09-04 12:06:07 Industry
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