Putin aims to attract international investments and position the country in the strategic market for critical minerals
International analysts point out that rare earth and lithium reserves in eastern Ukraine are a strategic component in the current Russian military invasion. Moscow seeks to reduce its dependence on imports and strengthen its autonomy in critical minerals.
The Ministry of Natural Resources confirmed that industrial lithium production will begin in 2030, with a target of 60,000 metric tons (132,277 pounds) of lithium carbonate annually. Russia declared it possesses 3.5 million metric tons (7,716,179 pounds) of lithium oxide, mainly concentrated in Siberia.
Lithium is essential for the manufacture of electric vehicles and is among the 50 critical minerals defined by the United States Geological Survey. In this context, Russia seeks to consolidate its role as one of the major players in the global energy transition.
Currently, the only active production of rare earth metals in Russia is at the Lovozerski mine in Murmansk. However, the country has 18 confirmed deposits of rare earths and associated metals, which reinforces its geological and strategic potential.
President Vladimir Putin announced that before November, a state program will be approved to develop the rare earth industry in Russia. These minerals, which are key for sectors such as nuclear energy, radio electronics, and precision machinery, represent a strategic resource on the global stage.
Putin emphasized that the country already has a register of reserves that will allow for more efficient progress in extraction and processing. He also highlighted that in the Russian Far East, there are significant deposits and dumps that accumulate resources with high development potential.
After returning from a visit to China, the Russian leader opened the door to foreign investment in this sector, including the United States. The Kremlin recalled that Washington showed interest in the Russian Arctic, a region where Moscow plans to create the Arctic Investment Foundation by the end of 2025.
Kirill Dmitriev, director of the Russian Direct Investment Fund, stated that projects in the Murmansk region are already being analyzed and that there are opportunities for cooperation with international players, especially in energies such as liquefied natural gas.
