Serbian Court Reinstates Rio Tinto’s Jadar Lithium Project Licenses

The Serbian Constitutional Court has overturned the government's decision to revoke the licenses for Rio Tinto Group's $2.55 billion Jadar lithium project, Reuters reported on July 11. The court ruled that the 2022 decision by the Serbian government was unconstitutional, stating that the government had "overstepped the limits of its competence."

Rio Tinto expressed approval of the court's decision in a statement to S&P Global Commodity Insights, highlighting the potential of the Jadar Project. "We continue to believe the Jadar Project has the potential to be a world-class lithium-borates asset that could act as a catalyst for the development of other industries and thousands of jobs for the current and future generations in Serbia," the company stated.

The project, which aims to develop a significant lithium-borates resource, faced opposition in late June from activists concerned about potential environmental risks. Earlier in June, President Aleksandar Vučić indicated a willingness to approve the mine's development after receiving new guarantees from Rio Tinto and the European Union to mitigate environmental impacts.