Serbia is on the brink of approving Rio Tinto’s Jadar project, which aims to extract lithium from a valley in the west of the country. President Aleksandar Vucic has announced that the government received assurances from both the British-Australian company and the European Union regarding environmental concerns. If everything goes smoothly, the mine is expected to begin operations in 2028, producing 58 thousand tons of lithium annually, enough for approximately 17% of electric vehicles in Europe.
Serbia sees the Jadar project as a significant source of income, with the EU committing to invest in battery and electric vehicle production projects on Serbian soil. This move by Brussels aligns with its recent decision to impose tariffs on electric vehicles from China, hinting at a potential shift in investment towards Serbia. The project, which has been in development for two decades, aims to position Serbia as a major player in the lithium market, challenging traditional producers like Australia, Chile, and China.
While Rio Tinto remains committed to the project and has released an environmental impact report to address criticisms, opposition groups continue to raise concerns about ecological damage, community displacement, and the loss of profitable agricultural activities in the region. President Vucic views this opportunity as a way to strengthen Serbia’s position on the global stage and leverage it against Brussels.
The Jadar project is also known as “The Project of the Century” and is poised to transform Serbia into a key player in the lithium market while potentially weakening China’s dominance. Despite opposition and environmental concerns, it seems that this project will proceed into its next phase signaling a new chapter in Serbia’s economic development and international relations.
