Lithium Returns: Russia Launches Strategic Metal Mining at Kolmozerskoye Deposit After 30 Years

In the Murmansk region, pilot industrial development of lithium has commenced at the Kolmozerskoye deposit. The project is being implemented by the joint venture "Polyarny Lithium," established by the state corporation Rosatom and the company Nornickel. This marks the first launch of lithium mining in Russia since the late 1990s, signaling the country's return to this strategic sector after a 30-year hiatus. The total investment in the project ranges from 91 to 150 billion rubles (~$1.17-1.93 billion). The plan envisions reaching industrial-scale production volumes by 2030. The event holds strategic significance for Russia, aimed at developing its own raw material base for battery production and reducing import dependency amid sanctions.