Russia Sets Ambitious 2030 Lithium Production Target

Russia plans to produce at least 60,000 metric tons of lithium carbonate by 2030 to reduce import reliance and boost electric battery production. Exploration licenses for key deposits have been issued, and Russia aims to expand its mining capabilities amid global interest in critical minerals.

Russia is ramping up its efforts in lithium production, setting an ambitious target to produce at least 60,000 metric tons of lithium carbonate by 2030, according to the natural resources ministry. This move is part of Moscow's strategy to cut down its dependency on imports and enhance its capacity in producing high-capacity electric batteries.

Lithium, a key component in electric vehicle production, has come under the global spotlight, especially as the U.S. attempts to counter China's dominance by exploring production opportunities in nations such as Ukraine and Russia. Russia has considerable lithium reserves and aims to start its industrial lithium production by 2030.

The Russian government has issued exploration licenses for major lithium deposits, indicating a strong push towards increasing the extraction and processing of this essential resource. The developments come at a time when the demand for lithium is soaring, driven by Russian companies' focus on mass production of lithium batteries and electric vehicles.

(With inputs from agencies.)