Nornickel, Rosatom to form JV to develop Kolmozerskoye lithium deposit

MOSCOW. April 25 (Interfax) - The Rosatom state nuclear corporation and Nornickel have signed an agreement on joint projects to develop the Kolmozerskoye lithium deposit in the Murmansk region and to process the lithium raw material mined there, Rosatom said.

This will give Russia the opportunity to start its own lithium industry and production of lithium-ion batteries. The country does not currently mine lithium.

Kolmozoryskoye contains 18.9% of Russia's lithium reserves and is the country's most promising lithium deposit. It has not yet been licensed.

Rosatom and Nornickel plan to form a joint venture on an equal footing and with equal corporate governance principles which will combine the competencies of the partners and will bid at an auction for the Kolmozoryskoye license.