A tripartite action plan (roadmap) for the project was also signed between Gazprom, the Ministry and Irkutsk Oil Company.
Alexey Miller noted:
- According to expert estimates, demand for lithium will continue soaring in the coming years and it is commonly known that Russia imports all the lithium consumed nationwide
- That is why it is especially important to develop domestic technological expertise in this field
- Gazprom is actively engaged in setting up import-substituting facilities covering the full cycle of lithium production and processing
- We have already completed a feasibility study for a project of this kind for the Kovyktinskoye field
- The project has a very large potential
- Initial estimates suggest that it might cover the bulk of domestic demand for lithium in the long run
The groundwaters of the Kovyktinskoye field contain vast reserves of natural lithium compounds.
Denis Manturov said:
- Today's event is an essential and substantive step towards fulfilling the ambitious goal of fully providing the industrial complex of Russia with domestically-produced rare metals and rare earth metals by 2030
- Despite a substantial resource base, Russia is not producing lithium yet
- This only enhances the significance of the prospective project of Gazprom and Irkutsk Oil Company
- It offers us an opportunity to shape a full-cycle lithium industry with a high export potential
Russia’s state-owned nuclear energy firm Rosatom also plans to begin producing lithium by 2023, targeting between 9% and 10% of the global market by 2030.
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