After more than 25-year break… Russia resumes lithium extraction
After a 25-year hiatus, Russia began extracting lithium ore, the strategic metal used in the manufacture of electric batteries and components of the nuclear and space industries.
According to Russian Novosti news Agency, on Saturday, a joint venture between the Nornickel Company and the Russian Atomic Energy Rosatom began investing in the largest mine for this ore in Russia.
Russia ranks third in the world in terms of lithium reserves.
The former Soviet Union hold the second place in lithium production behind the United States.
In 1997, Russia stopped production operations after the decline in the world price of these raw materials and started importing them from Latin America and China.
Last year, Russia stopped importing this material from Argentina and Chile due to Western sanctions, and this was accompanied by a very sharp rise in its prices, with the price per ton reaching more than $80,000 in 2022.
