Russian uranium miner ARMZ Uranium Holding (ARMZ) plans to boost annual lithium production by up to 50,000mt in the Northwest and Southeast regions with an estimated investment of RUB50bn ($674mn).
ARMZ in partnership with domestic nuclear energy specialist Rosatom plans to scale up to mass production by 2030, noted media reports on Aug 25.
The Russian government also hinted to the media on Wednesday of expanding lithium operations worldwide. However, the ARMZ-Rosatom projects are expected to be in the Murmansk and Irkutsk areas.
ARMZ has uranium mining operations in Russia and Siberia, whereas Rosatom has 35 nuclear power facilities globally with a workforce of over 275,000.