diff --git a/rust/Cargo.lock b/rust/Cargo.lock
index 207afff..2984ac8 100644
--- a/rust/Cargo.lock
+++ b/rust/Cargo.lock
@@ -10,24 +10,6 @@ dependencies = [
  "pyo3",
 ]
 
-[[package]]
-name = "autocfg"
-version = "1.5.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "c08606f8c3cbf4ce6ec8e28fb0014a2c086708fe954eaa885384a6165172e7e8"
-
-[[package]]
-name = "bitflags"
-version = "2.11.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "843867be96c8daad0d758b57df9392b6d8d271134fce549de6ce169ff98a92af"
-
-[[package]]
-name = "cfg-if"
-version = "1.0.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "9330f8b2ff13f34540b44e946ef35111825727b38d33286ef986142615121801"
-
 [[package]]
 name = "crossbeam-deque"
 version = "0.8.6"
@@ -61,18 +43,9 @@ checksum = "48c757948c5ede0e46177b7add2e67155f70e33c07fea8284df6576da70b3719"
 
 [[package]]
 name = "heck"
-version = "0.4.1"
+version = "0.5.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "95505c38b4572b2d910cecb0281560f54b440a19336cbbcb27bf6ce6adc6f5a8"
-
-[[package]]
-name = "indoc"
-version = "2.0.7"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "79cf5c93f93228cf8efb3ba362535fb11199ac548a09ce117c9b1adc3030d706"
-dependencies = [
- "rustversion",
-]
+checksum = "2304e00983f87ffb38b55b444b5e3b60a884b5d30c0fca7d82fe33449bbe55ea"
 
 [[package]]
 name = "libc"
@@ -80,30 +53,12 @@ version = "0.2.184"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "48f5d2a454e16a5ea0f4ced81bd44e4cfc7bd3a507b61887c99fd3538b28e4af"
 
-[[package]]
-name = "lock_api"
-version = "0.4.14"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "224399e74b87b5f3557511d98dff8b14089b3dadafcab6bb93eab67d3aace965"
-dependencies = [
- "scopeguard",
-]
-
 [[package]]
 name = "memchr"
 version = "2.8.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "f8ca58f447f06ed17d5fc4043ce1b10dd205e060fb3ce5b979b8ed8e59ff3f79"
 
-[[package]]
-name = "memoffset"
-version = "0.9.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "488016bfae457b036d996092f6cb448677611ce4449e970ceaf42695203f218a"
-dependencies = [
- "autocfg",
-]
-
 [[package]]
 name = "nsv"
 version = "0.0.12"
@@ -120,29 +75,6 @@ version = "1.21.4"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "9f7c3e4beb33f85d45ae3e3a1792185706c8e16d043238c593331cc7cd313b50"
 
-[[package]]
-name = "parking_lot"
-version = "0.12.5"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "93857453250e3077bd71ff98b6a65ea6621a19bb0f559a85248955ac12c45a1a"
-dependencies = [
- "lock_api",
- "parking_lot_core",
-]
-
-[[package]]
-name = "parking_lot_core"
-version = "0.9.12"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "2621685985a2ebf1c516881c026032ac7deafcda1a2c9b7850dc81e3dfcb64c1"
-dependencies = [
- "cfg-if",
- "libc",
- "redox_syscall",
- "smallvec",
- "windows-link",
-]
-
 [[package]]
 name = "portable-atomic"
 version = "1.13.1"
@@ -160,37 +92,32 @@ dependencies = [
 
 [[package]]
 name = "pyo3"
-version = "0.20.3"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "53bdbb96d49157e65d45cc287af5f32ffadd5f4761438b527b055fb0d4bb8233"
+checksum = "cd274650b21d4bfc26a0a47587962c1edb425f69287324355cd040c3ea66071c"
 dependencies = [
- "cfg-if",
- "indoc",
  "libc",
- "memoffset",
- "parking_lot",
+ "once_cell",
  "portable-atomic",
  "pyo3-build-config",
  "pyo3-ffi",
  "pyo3-macros",
- "unindent",
 ]
 
 [[package]]
 name = "pyo3-build-config"
-version = "0.20.3"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "deaa5745de3f5231ce10517a1f5dd97d53e5a2fd77aa6b5842292085831d48d7"
+checksum = "c5e2a7d2f0d013342f295c048ad19237add5154a55b1c5a254c0ec93d4109078"
 dependencies = [
- "once_cell",
  "target-lexicon",
 ]
 
 [[package]]
 name = "pyo3-ffi"
-version = "0.20.3"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "62b42531d03e08d4ef1f6e85a2ed422eb678b8cd62b762e53891c05faf0d4afa"
+checksum = "ca85c467da1bbc8d866eea5deff9cf29ea5f7785054a17da36e65bda9c05845b"
 dependencies = [
  "libc",
  "pyo3-build-config",
@@ -198,9 +125,9 @@ dependencies = [
 
 [[package]]
 name = "pyo3-macros"
-version = "0.20.3"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7305c720fa01b8055ec95e484a6eca7a83c841267f0dd5280f0c8b8551d2c158"
+checksum = "9ac53762fd065daa3194dd09337a38bd793a188100fd1a9304c4ab312d901771"
 dependencies = [
  "proc-macro2",
  "pyo3-macros-backend",
@@ -210,13 +137,12 @@ dependencies = [
 
 [[package]]
 name = "pyo3-macros-backend"
-version = "0.20.3"
+version = "0.29.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7c7e9b68bb9c3149c5b0cade5d07f953d6d125eb4337723c4ccdb665f1f96185"
+checksum = "4ca3a1557399783172dc5bf39cfca835157732532cba56b71d2292161e53b362"
 dependencies = [
  "heck",
  "proc-macro2",
- "pyo3-build-config",
  "quote",
  "syn",
 ]
@@ -250,33 +176,6 @@ dependencies = [
  "crossbeam-utils",
 ]
 
-[[package]]
-name = "redox_syscall"
-version = "0.5.18"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "ed2bf2547551a7053d6fdfafda3f938979645c44812fbfcda098faae3f1a362d"
-dependencies = [
- "bitflags",
-]
-
-[[package]]
-name = "rustversion"
-version = "1.0.22"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "b39cdef0fa800fc44525c84ccb54a029961a8215f9619753635a9c0d2538d46d"
-
-[[package]]
-name = "scopeguard"
-version = "1.2.0"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "94143f37725109f92c262ed2cf5e59bce7498c01bcc1502d7b9afe439a4e9f49"
-
-[[package]]
-name = "smallvec"
-version = "1.15.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "67b1b7a3b5fe4f1376887184045fcf45c69e92af734b7aaddc05fb777b6fbd03"
-
 [[package]]
 name = "syn"
 version = "2.0.117"
@@ -290,24 +189,12 @@ dependencies = [
 
 [[package]]
 name = "target-lexicon"
-version = "0.12.16"
+version = "0.13.5"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "61c41af27dd6d1e27b1b16b489db798443478cef1f06a660c96db617ba5de3b1"
+checksum = "adb6935a6f5c20170eeceb1a3835a49e12e19d792f6dd344ccc76a985ca5a6ca"
 
 [[package]]
 name = "unicode-ident"
 version = "1.0.24"
 source = "registry+https://github.com/rust-lang/crates.io-index"
 checksum = "e6e4313cd5fcd3dad5cafa179702e2b244f760991f45397d14d4ebf38247da75"
-
-[[package]]
-name = "unindent"
-version = "0.2.4"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7264e107f553ccae879d21fbea1d6724ac785e8c3bfc762137959b5802826ef3"
-
-[[package]]
-name = "windows-link"
-version = "0.2.1"
-source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "f0805222e57f7521d6a62e36fa9163bc891acd422f971defe97d64e70d0a4fe5"
diff --git a/rust/Cargo.toml b/rust/Cargo.toml
index 6da9d42..328b24a 100644
--- a/rust/Cargo.toml
+++ b/rust/Cargo.toml
@@ -8,5 +8,5 @@ name = "_rust"
 crate-type = ["cdylib"]
 
 [dependencies]
-pyo3 = { version = "0.20", features = ["extension-module"] }
+pyo3 = { version = "0.29", features = ["extension-module"] }
 nsv = "0.0.12"
diff --git a/rust/src/lib.rs b/rust/src/lib.rs
index e95d01e..041de01 100644
--- a/rust/src/lib.rs
+++ b/rust/src/lib.rs
@@ -3,7 +3,7 @@ use pyo3::types::PyList;
 
 /// Parse NSV string into a list of lists of str
 #[pyfunction]
-fn loads(py: Python, s: &str) -> PyResult<PyObject> {
+fn loads<'py>(py: Python<'py>, s: &str) -> PyResult<Bound<'py, PyList>> {
     let data = nsv::decode(s);
 
     // Convert Vec<Vec<String>> to Python list of lists
@@ -16,7 +16,7 @@ fn loads(py: Python, s: &str) -> PyResult<PyObject> {
         result.append(py_row)?;
     }
 
-    Ok(result.into())
+    Ok(result)
 }
 
 /// Serialize data to NSV string
@@ -27,7 +27,7 @@ fn dumps(data: Vec<Vec<String>>) -> PyResult<String> {
 
 /// A Python module implemented in Rust.
 #[pymodule]
-fn _rust(_py: Python, m: &PyModule) -> PyResult<()> {
+fn _rust(m: &Bound<'_, PyModule>) -> PyResult<()> {
     m.add_function(wrap_pyfunction!(loads, m)?)?;
     m.add_function(wrap_pyfunction!(dumps, m)?)?;
     Ok(())