Serbia May Approve Rio Tinto’s Lithium Mine After Environmental Concerns Addressed

Serbian President Aleksandar Vucic is poised to give Rio Tinto the go-ahead to develop Europe's largest lithium mine, two years after the project was halted, according to the Financial Times.

Vucic indicated that "new guarantees" from Rio Tinto and the European Union have addressed Serbia’s environmental concerns about the Jadar site in western Serbia. "If we deliver on everything, [the mine] might be open in 2028," Vucic told the FT, noting that the mine is expected to produce 58,000 tons of lithium annually, sufficient for approximately 17% of Europe's EV production, equating to about 1.1 million cars.

Rio Tinto, in a statement to Reuters, emphasized the potential of the Jadar Project as a "world-class asset" that could catalyze the development of an electric vehicle (EV) value chain in Serbia. Lithium, a critical material for EV batteries and mobile devices, is in high demand by both the European Union and the United States.

In 2022, Serbia revoked Rio Tinto's licenses for the $2.4 billion Jadar project following massive environmental protests. If realized, the project could supply 90% of Europe's current lithium needs, positioning Rio Tinto as a leading lithium producer.

Environmentalists in Serbia have been vocal against lithium exploration, collecting 30,000 signatures in 2021 and 2022 to petition parliament for legislation to halt such activities.