Mining and Metallurgical Norilsk Nickel : Polar Lithium completes fieldwork stage of exploration at Kolmozerskoye lithium deposit

Polar Lithium, a joint venture between Nornickel and Rosatom, continues active preparation for developing Kolmozerskoye, Russia's largest lithium deposit, located in the Murmansk Region.

The entire scope of planned exploration drilling has been fully completed over the course of 2023 and 2024, totalling 184 wells (exploration, hydrogeological, and geomechanical) with a combined length of more than 40 km.

The terms of subsoil use for the project prioritise the involvement of Russian contractors and technologies. Exploration at the deposit was carried out by subsidiaries of Rusburmash, an exploration and drilling company of Rosatom's mining division, and Nornickel's Norilsk Technical Services. The companies' combined strong expertise enabled quick and efficient completion of the fieldwork exploration stage.

The exploration data is being processed using advanced technologies, yielding 3D geological, hydrogeological, and geomechanical models.

"The preliminary exploration data, currently under review, looks promising. Over 50% of the samples have been processed, confirming the ore bodies mapped in the 1950s and identifying new, previously unknown ones. The results point to anticipated growth in reserves as well as enhancements to the ore quality." Polar Lithium's CEO, Igor Demidov, said the company is making concerted efforts to create a resource base for a full-cycle (from

mine

to EV) lithium industry in Russia.

The All-Russian Scientific Research Institute of Mineral Resources (VIMS) has been engaged to develop a new feasibility study and submit the new reserves data for state expert review in mid-2025. Work is underway to select the optimal option for tapping into and developing the deposit, and a site plan for the main facilities of the future mining and processing plant has been developed.

Alexander Popov, Senior Vice President - Chief Operating Officer and Head of Nornickel's Trans-Baikal Division, stated that Polar Lithium will serve as a testing ground for cutting-edge technologies in the metals and mining industry. "Our mission is to establish efficient, state-of-the-art operations spanning the entire production chain - from mining to processing. It will be unparalleled in Russia and raise the bar for the industry," Popov said.

"With the partnership between Rosatom and Nornickel, we can efficiently develop this strategic project on schedule. Polar Lithium will supply domestic lithium feedstock for the gigafactories already under construction in the country to produce energy storage systems, including projects run by Rosatom," commented Alexey Shemetov, First Deputy CEO of Rosatom's mining division.

FOR REFERENCE

Kolmozerskoye is the largest lithium deposit in Russia in terms of lithium reserves, discovered in the 1950s and accounting for 24.2% of Russia's lithium balance reserves, with a lithium

oxide

content of 1.13% (on par with deposits worldwide).

On 21 February 2023, Polar Lithium obtained a licence for exploration and mining of lithium ores with associated minerals. The initial payment following the auction totalled RUB 1.7 bn. The deposit boasts a reserves-to-production ratio of up to 40 years with a planned production of 2 mt of ore and output of 45 kt of lithium carbonate and lithium hydroxide per year.