Serbia is on the brink of approving the “Jadar” project for mining company Rio Tinto, which aims to extract lithium deposits from a valley in the western part of the country. President Aleksandar Vucic has stated that Belgrade has received assurances from both Rio Tinto and the European Union regarding environmental concerns raised by his government. If all goes according to plan, the mine is expected to open in 2028 with an annual production rate of 58 thousand tons of lithium, enough to supply 17% of Europe’s electric vehicles.
The Jadar mine project has been a contentious issue in Serbia for years, with environmental concerns and protests leading to delays in its development. Despite opposition from residents in the Jadar River valley, the project is moving forward, with the potential to position Serbia as a major player in the global lithium market.
In addition to providing a new source of income, the European Union has pledged to invest in projects for battery and electric vehicle production within Serbia. This commitment demonstrates a dedication to supporting Serbia’s economic development and could redirect investment opportunities away from China at a time when the EU is increasing its tariffs on electric vehicles from that country.
Rio Tinto recently published an environmental impact report as an effort to address criticisms surrounding the project’s potential harm on the environment. However, environmental organizations remain steadfast in their opposition, citing concerns about destruction of the area, displacement of residents and disruption of agricultural activities.
As Serbia navigates its relationship with Europe, this Jadar project represents an opportunity for
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