Russia is set to become self-sufficient in rare earth metals and lithium production by the year 2030, according to Russian Deputy Prime Minister Denis Manturov. In an interview with Interfax news agency, Manturov highlighted that Russia has one of the largest reserves of minerals, including rare and rare earth metals, which makes it the second-largest reserve holder after China. He emphasized that Russia’s domestic raw material base is capable of meeting both current and future demands of the country’s industry, with the possibility of tapping into new deposits and establishing a comprehensive cycle of raw materials processing.
Manturov also stated that Russia will place a strong emphasis on lithium production, aiming to become one of the world’s top producers of this crucial metal. He highlighted that Russia faces no challenges in processing lithium and has extensive deposits of the mineral. In fact, plans are already underway to commence extraction from various deposits in Russia’s Far Eastern Zabaikalsky Krai region later this year. Manturov added that the country has sufficient processing capacity at multiple plants, and by 2025, lithium production will fully cover domestic demand. By 2030, Russia’s lithium production will not only meet domestic needs but also cater to exports.
The Russian Industry and Trade Ministry’s metallurgy department has also divulged its plans to begin producing lithium feedstock by 2026, as announced by Vladislav Vasiliyev. He affirmed that if the full production capacity can be achieved within three years, Russia will not only achieve self-sufficiency but also generate surplus production volumes.
The growing global demand for lithium stems from its crucial role in lithium-ion batteries, which are essential components of consumer electronics and electric vehicles. Furthermore, the United Nations regards lithium as a pillar for the fossil-fuel-free economy, as it is expected to be the primary means of energy storage in future clean power grids.
Russia’s pursuit of self-sufficiency in rare earth metals and lithium aligns with global efforts to secure critical mineral supply chains. With its vast reserves, the country aims to reduce its dependence on imports and contribute significantly to meeting its own industrial needs. These developments not only bode well for Russia’s economy but also highlight its potential to play a significant role in the global lithium market.
In conclusion, Russia’s plans to become self-sufficient in rare earth metals and lithium production by 2030 are well underway. With its abundant mineral reserves and plans for new deposits and advanced processing capabilities, Russia aims to meet its domestic demand and emerge as a major player in the global lithium market. This move aligns with the increasing demand for lithium and its crucial role in clean energy technologies, such as lithium-ion batteries. By achieving self-sufficiency, Russia will enhance its economic stability and competitiveness while contributing to securing critical mineral supply chains.