Irkutsk Oil Co to start lithium production at Kovykta in 2024–2025

MOSCOW, Oct 13 (PRIME) -- Russia’s Irkutsk Oil Company plans to launch lithium production at the Kovykta gas condensate field of gas giant Gazprom in 2024–2025, Sergei Donskoi, member of the company’s board of directors, told reporters on Wednesday on the sidelines of the Russian Energy Week forum.

The company signed an agreement of intent with Gazprom on production and processing of formation brines of the Kovykta field o receive compounds of lithium and other valuable components on October 7.

When asked when production of lithium starts at Kovykta, Donskoi said, “In general, this is about 2024–2025.”

Currently, preparation of prototype units is going on to understand investment and production of lithium, he said.

Production at the Yaraktinskoye field, where company planned to produce of 1,000 tonnes of lithium salts per year starting from 2022, will start a bit later, he said, adding that the company will prioritize Russian companies as consumers of lithium, but will also look into exports.

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