It can take 10–15 years from obtaining a special permit to starting underground lithium mining. This timeframe is consistent with global experience in developing deposits of rare and non-ferrous metals.
Mykhailo Heichenko, CEO of UkrLithiumMining LLC, made the statement at the United by Mining forum.
The company holds a special permit for the Polokhivske lithium deposit in Kirovohrad region. According to Heichenko, launching such projects quickly is technically impossible.
“The 10–15-year timeframe is based on global experience, rather than our own calculations, for rare, rare-earth, hydrogen and non-ferrous metals developed through underground mining. Completing this in either two and a half or three years is impossible even in theory,” he said.
Heichenko explained that after obtaining its special permit, UkrLithiumMining completed several stages of project preparation. The company carried out a detailed geological and economic assessment, had its reserves approved by Ukraine’s State Commission on Mineral Resources (DKZ), and made the corresponding amendments to its special permit.
The company then conducted additional exploration in accordance with international technical standards, recalculated the resources and spent several years on technological studies.
According to the latest geological studies, the Polokhivske deposit in Kirovohrad region contains more than 760,000 tonnes of lithium carbonate equivalent, making it one of Europe’s largest lithium deposits.
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