Serbian court clears path for Rio Tinto lithium mine

Serbia

BELGRADE, July 11, 2024 – Rio Tinto is celebrating a ruling by a Serbian high court to overturn a government decision to revoke a permit for the USD 2.4-billion Jadar lithium mine project, international media reported on Thursday.

The project could meet 90% of Europe’s current lithium needs and transform Serbia into a top global producer.

The Serbian Constitutional Court said the government had acted against the country’s constitution in revoking the spatial plan permit in 2022.

Discovered by the Australian mining giant in 2004, the Jadar deposit holds large-scale, high-grade reserves of lithium and boron. It is located in the Jadar Valley in Western Serbia, around 160 kilometres from Belgrade.

Lithium is a critical mineral in the manufacture of batteries and electric vehicles, and is expected to see surging demand in the coming years. Boron is crucial in the manufacture of solar panels.

Rio Tinto has argued that the project will benefit Serbia by acting as a catalyst for the development of other industries and creating tens of thousands of jobs.