(INTERFAX.RU) - The Arctic Lithium public company was incorporated in Monchegorsk on September 23, 2022, according to Russia’s Unified State Register of Legal Entities.
The authorized capital of Arctic Lithium is ₽1 million. The company does not disclose the founders. Dmitry Vysotsky, who previously was a co-owner and head of construction companies in Moscow and the Stavropol Territory, has been appointed its CEO, and currently owns a 25% stake in the Moscow-based Sandastrial concrete production company.
In June 2022, Alexander Kozlov, the Russian Minister of Natural Resources, told Interfax about plans to hold an auction for the Kolmozerskoye lithium deposit in the Murmansk Province in the third or fourth quarter of 2022. The minimum one-time payment at the auction may amount to ₽589.75 million.
In April, Rosatom and Nornickel signed an agreement on joint projects to develop the Kolmozerskoye deposit with a further deep processing of lithium. The Polar Lithium joint venture was registered in July this year in Moscow.
The Kolmozerskoye deposit is considered the largest in Russia (18.9% of domestic reserves, 75 million tons) and the most promising.
Currently, lithium, one of the key elements for batteries (including electric vehicles), is not mined in Russia.
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