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Gazprom Neft plans to launch industrial production of lithium, iodine by 2028

Chief Executive Officer Alexander Dyukov said that there were prospects on other components, including scandium, gallium, rubidium, and cesium

ST. PETERSBURG, June 20. /TASS/. Gazprom Neft is exploring the possibility of extracting rare earth components from associated waters of its own fields, Chief Executive Officer Alexander Dyukov told reporters, adding that the company plans to launch industrial production of lithium and iodine by 2028, and that there are prospects on scandium, gallium, rubidium, and cesium.

"The company plans to launch industrial production of lithium in the Orenburg Region and iodine in the Khanty-Mansi Region by 2028. There are prospects on other components, including scandium, gallium, rubidium, and cesium," he said on the sidelines of the St. Petersburg International Economic Forum (SPIEF).

The company is actively working on potential extraction of valuable components, including rare earth elements, from associated waters of its own deposits in the Orenburg Region, the chief executive added. "For doing that, the company is adjusting its experience in the field of geological exploration and production to new facilities; at the moment, the resource base of rare earth components at deposits is being updated, rare earth component production technologies are being tested, best business models are being formed," he explained.

The St. Petersburg International Economic Forum (SPIEF) is taking place on June 18-21. This year, the event is held under the theme "Shared Values: The Foundation of Growth in a Multipolar World." The program includes the SME Forum, the Creative Industries Forum, the Day of the Future International Youth Economic Forum, the Drug Security Forum, and the Roscongress Urban Hub discussion platform. The Roscongress Foundation is the organizer of the St. Petersburg International Economic Forum. TASS is its information partner.

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