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25 April 2022
Rosatom and Nornickel Signed Agreement
Rosatom State Atomic Energy Corporation and «Mining and Metallurgical Company «NORILSK NICKEL», PJSC («MMC Norilsk Nickel», PJSC) have entered into Cooperation Agreement.
The agreement is signed by Vladimir Potanin, President of «MMC Norilsk Nickel», PJSC, and Alexey Likhachev, Director General of Rosatom State Atomic Energy Corporation.
The parties have agreed to cooperate in several areas.
First of all, this is the implementation of strategic projects in the Arctic Zone of the Russian Federation (AZRF), which are aimed at developing infrastructure of the Northern Sea Route and arctic shipping, including shipbuilding projects, as well as at the expansion of the nuclear-powered icebreaking fleet. The icebreakers of FSUE Atomflot help Nornickel expand the transport corridor to the Taimyr, which would make it possible to ensure the implementation of the ambitious investment program in the Norilsk industrial region. Indeed, since 2022, the Siberia nuclear-powered icebreaker has been operating all-year-round navigation between Murmansk and Dudinka and in the Yenisey Gulf to provide for commercial trolling speed.
They may also implement some joint projects to develop the Kolmozerskoye lithium deposit in the Murmansk region with further deep processing of lithium raw materials. The Kolmozerskoye deposit is the largest (18.9% of domestic reserves) and the most promising Russian field of lithium ore, which is currently part of the unlicensed mineral fund. It is planned to establish a joint venture with the stakeholders holding 50/50 stakes and exercising parity-based corporate governance. It would participate in the bid to obtain a license for the Kolmozerskoye deposit with the partner’s merged assets and combined expertise.
The extraction of raw materials will make it possible to build the first domestic plant to produce lithium-containing products and traction lithium-ion batteries. In this way, by reinforcing each other’s capabilities and assets, the synergy between Rosatom State Atomic Energy Corporation and «MMC Norilsk Nickel», PJSC will speed up the creation of a vertically integrated energy storage industry.
On the part of Rosatom State Atomic Energy Corporation, the implementation of the agreement on cooperation will involve FSUE Atomflot, ARMZ Uranium Holding Co., TENEX, JSC, and RENERA, LLC.
«The list of the areas is not exhaustive and may be expanded by the Parties through the conclusion of supplemental agreements,» the document states.
