NOVOSIBIRSK, March 3. /TASS/. Rosatom is hoping to gain ownership of some foreign lithium deposits as it has made a major bet on lithium batteries, Natalia Nikipelova, president of the TVEL Fuel Company, a Rosatom subsidiary, told reporters on Friday.

She made the comments while visiting the Novosibirsk Chemical Concentrates Plant.

"I can’t say whether the foreign tenders are over or not, but we very much hope that in addition to Russian lithium reserves - and Russia ranks as the world’s third-largest holder of lithium reserves - we will also have foreign deposits owned by Rosatom, because for us it’s a strategic product. We are making a big bet on lithium batteries in particular, therefore, it’s important to make sure we have our own primary commodity," she said.

Nikipelova said that TVEL now buys the commodity from outside suppliers, but Rosatom is seeking to secure its own supply.

"You know, we have a separate division that is engaged in the mining, for example, of uranium, gold and coal. Providing the lithium commodity, for example, from the Kolmozero deposit, is something that ARMZ Uranium Holding will be doing," she said, referring to Rosatom’s mining subsidiary.

The executive said the company is fulfilling all its export contracts to the full extent and in line with the contractual timeline.

Discovered in 1947, the Kolmozero deposit is the most promising Russian lithium deposit, which is located in the Murmansk Region. The right to develop it was awarded to OOO Polyarny Lity, or Polar Lithium, following a competitive bidding that ended on February 8, 2023. The plan for developing the deposit stipulates it will produce 45,000 metric tons of lithium carbonate a year. Production is expected to reach full capacity by 2030.