On July 19, in Belgrade, Serbian President Aleksandar Vucic and German Chancellor Olaf Scholz witnessed the signing of a memorandum of understanding (MOU) between Serbia and the European Union. This agreement establishes a strategic partnership focused on sustainable raw materials, battery value chains, and electric vehicles.
The MOU was signed during the Summit on Serbia’s Critical Raw Materials, which was attended by Vucic, Scholz, EU Commission Vice-President Maros Sefcovic, and representatives from European financial institutions, car battery manufacturers, and Rio Tinto. Rio Tinto is expected to lead the mining of lithium in the Jadar River Valley near Loznica.
At the Summit, President Vucic emphasized that the lithium mining project would proceed only with full protection of human lives and the environment. He acknowledged that public support for lithium extraction in Serbia is lacking, but insisted that the EU has assured that the Jadar Project will adhere to the highest standards.
Chancellor Scholz promised that Germany would support Serbia in developing a larger lithium production value chain, which is projected to attract billions in investments and drive significant progress, particularly in Western Serbia. Vucic highlighted that mining lithium represents a significant opportunity for Serbia, and the country is determined not to miss it. 
