Rostec’s firm may get lithium field in Tuva for 557.8 mln rbl

MOSCOW, Oct 2 (PRIME) -- Elbrumetal-Lithium, a subsidiary of Russian state industrial corporation Rostec, has become the only contender for a license for the Tastygskoye lithium field in the republic of Tuva with the license payment amounting to 557.8 million rubles, the Natural Resources and Environment Ministry said in a statement on Monday.

“Elbrusmetal-Lithium was the only bidder for the Tastygskoye field. If the bidding materials comply with demands of the law on subsoil resource management and with the auction’s rules, the company will receive the license for 557.8 million rubles,” the ministry said in its Telegram channel.

Rostec’s subsidiary RT-Business Development owns 99% in Elbrusmetal, which controls the owner of Elbrusmetal-Lithium – Elbrus Mining Company.

The non-commercial reserves of the Tastygskoye field under the C2 category stand at 40,700 tonnes of ore, 596,300 tonnes of lithium, 7,800 tonnes of niobium pentoxide, 3,900 tonnes of tantalum pentoxide, and 21,400 tonnes of tin.

(97.4147 rubles – U.S. $1)

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