Physical oil prices have fallen internationally, reflecting easing concerns over Russian-led supply disruptions and worries of a global economic slowdown
The government must get off its ideological perch, harness the goodwill shown during the pandemic and work with business to improve the nation’s health
Ramaphosa gave the Special Investigating Unit the green light to investigate allegations against the two boards earlier in August
The party has decided there should not be a cooling-off period as provided for in the Electoral Amendment Bill
Evraz is under sanctions by the UK and EU after Russia’s invasion of Ukraine
The improved sentiment is a result of increased merchandise export and import volumes and more new vehicles sold, Sacci report says
Emergence from EU’s enhanced surveillance framework will allow the country greater freedom in making economic policy
Fiery hooker comes in as coach Jacques Nienaber reshuffles front row for All Blacks showdown
It’s time to talk about the safety of in-car tech that takes a driver's attention off the road
Russia’s state-owned nuclear power supplier Rosatom and metals producer Nornickel plan to develop a lithium deposit in the northwestern Murmansk region, RIA news agency reported on Monday, citing Rosatom.
Global demand for lithium is rising worldwide due to its use in batteries for electric vehicles. Amid that demand, Rosatom’s subsidiary entered a lithium project in Argentina in late 2021.
However, the risk of a lithium deficit has become a bigger issue for Russia since its main suppliers — Chile and Argentina — have stopped exports to Russia due to Western sanctions imposed on Moscow over what Russia terms a “special military operation” in Ukraine.
Rosatom sees the Kolmozerskoye deposit as the most promising lithium deposit in Russia and wants to develop it together with Nornickel, the world’s largest producer of palladium and refined nickel, RIA quoted Kirill Komarov, Rosatom first deputy CEO , as saying.
“We expect that the government will decide this year to put it up for auction and we want to start working on it,” Komarov said.
Russia has to rely on supplies of raw material, lithium carbonate, from Bolivia since other producers have stopped exports to Moscow, Russia’s trade ministry said earlier in April.
If Bolivia stops supplying the raw materials, there will be nowhere to get them, making it challenging for Russia to supply its lithium-ion battery needs, the trade ministry added.
Nornickel said that its co-operation with Rosatom would help Russia to take a step forward in developing its own production of efficient modern batteries.
“Nornickel’s products have long played an important role in the creation of energy storage systems,” the mining company said.
“By expanding our range of metals to include such an important and sought-after raw material as lithium, we intend to strengthen our position as a key supplier to the battery industry.”
Would you like to comment on this article? Register (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.