Russia discovered new lithium reserves first time in more than two decades — Deputy PM

Russia has announced the discovery of new lithium reserves totaling 3.5 million metric tons of lithium oxide, a find the Ministry of Natural Resources states is sufficient to meet the needs of the Russian economy and marks the first such major discovery in over two decades. This significant booking of reserves was confirmed by a Deputy Prime Minister, signaling a pivotal moment for Russia resource independence. The timing of this discovery is critical, as it directly addresses Russia drive for self-sufficiency in key industrial components amidst ongoing Western sanctions, particularly as the nation aims to develop its domestic electric vehicle production. Globally, lithium remains an indispensable critical mineral for the accelerating energy transition, powering everything from EV batteries to grid-scale energy storage, making secure access to its supply a growing geopolitical imperative for all major economies. For Russia, this discovery not only bolsters its strategic autonomy by reducing reliance on imports but also potentially positions it as a future player in the global lithium market, adding a new dimension to resource geopolitics.