Connect with us

Hi, what are you looking for?

Business

Serbia could mine lithium as early as 2028: FT

The mine is projected to produce 58,000 tonnes of lithium per year
The mine is projected to produce 58,000 tonnes of lithium per year - Copyright AFP Andrej ISAKOVIC
The mine is projected to produce 58,000 tonnes of lithium per year - Copyright AFP Andrej ISAKOVIC

President Aleksandar Vucic said Serbia could exploit lithium as early as 2028 following new guarantees from Australian mining giant Rio Tinto and the EU over the controversial project, the Financial Times reported on Sunday.

According to Rio Tinto, Jadar in western Serbia holds one of Europe’s largest reserves of lithium — a strategically valuable metal crucial for electric vehicle battery production.

The deposits were discovered in 2004 but the Serbian government halted the mining project in 2022 after weeks of protests sparked by fears for the environment and public health.

Vucic told the Financial Times that the mining giant and the European Union had given “new guarantees” regarding compliance with environmental standards.

“If we deliver on everything, (the mine) might be open in 2028,” Vucic said, adding that it would be a game-changer for the country and the entire region.

The president said the mine is expected to produce 58,000 tonnes of lithium per year, which would equate to 17 percent of electric vehicle production in Europe or 1.1 million cars.

Opponents had previously accused Rio Tinto and Vucic of not being transparent about the process and of refusing to publish environmental impact reports.

On Thursday, the mining giant published an environmental impact report that aimed to assuage concerns and reset the terms of the debate, the group promised “safe, reliable, and proven technology”.

Rio Tinto denounced “a broad misinformation campaign based on defamatory elements” advancing “unsubstantiated claims” that the project would harm water resources, soil, biodiversity, air quality and human health.

In September 2023, Serbia signed a letter of intent with the European Commission for a strategic partnership in batteries and raw materials.

AFP
Written By

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.

You may also like:

World

"I am scared, I am anxious now," Charlyn Anderson told AFP as she left Harris's election night HQ at Howard University in Washington.

World

Donald Trump won a sweeping victory in the US presidential election on Wednesday, defeating Kamala Harris in a stunning political comeback.

Entertainment

Casey Likes in 'Back to the Future: The Musical' on Broadway. Photo Credit: Matthew Murphy and Evan ZimmermanBroadway actor and singer Casey Likes stars...