Serbia is on the verge of approving the “Jadar” project for the mining company Rio Tinto, which is set to extract lithium deposits from a valley in the western part of the country. President Aleksandar Vucic stated that Belgrade has received reassurances from both the British-Australian company and the European Union regarding environmental concerns raised by his government. If all goes according to plan, the mine is expected to open in 2028, with an annual production rate of 58 thousand tons of lithium, enough to supply 17% of Europe’s electric vehicles.
In addition to providing a new source of income, the European Union has pledged to invest in projects for battery and electric vehicle production within Serbia, demonstrating a commitment to the country’s economic development. This support comes at a time when the EU is increasing its tariffs on electric vehicles from China, potentially redirecting investment opportunities towards Serbia.
The Jadar mine project has been a contentious issue in Serbia for years, with environmental concerns and protests leading to delays in its development. Despite opposition from residents in the Jadar River valley, the project is moving forward, with the potential to position Serbia as a major player in the global lithium market.
Rio Tinto recently published an environmental impact report in an effort to address criticisms surrounding the project’s potential environmental harm. However, environmental organizations remain steadfast in their opposition, citing concerns about the destruction of the area, displacement of residents, and disruption of agricultural activities.
As Serbia navigates its relationship with the European Union, the Jadar project represents an opportunity for the country to assert itself on the global stage and strengthen its economic ties. With the potential to become a significant lithium producer, Serbia is poised to play a key role in the future of electric vehicle production.