Vucic told the newspaper that “new guarantees” from the global mining giant and the European Union seem poised to address Serbia’s concerns about meeting necessary environmental standards at the Jadar site in the western part of the country.
In a statement emailed to Reuters, Rio Tinto said, “We believe the Jadar project has the potential to be a world-class asset that could act as a catalyst for developing an EV (electric vehicle) value chain in Serbia.”
Lithium, regarded as a critical material by the EU and the United States, is used in batteries for EVs and mobile devices.
“If we deliver on everything, (the mine) might be open in 2028,” Vucic told the FT, adding that the mine is projected to produce 58,000 tons of lithium per year, which would be “enough for 17% of EV production in Europe — approximately 1.1 million cars.”
In 2022, Belgrade revoked licenses for Rio Tinto’s $2.4 billion Jadar project following massive environmental protests. If completed, the project could supply 90% of Europe’s current lithium needs and help make the company a leading lithium producer.
In 2021 and 2022, Serbian environmentalists collected 30,000 signatures in a petition demanding that parliament enact legislation to halt lithium exploration in the country.
