Serbia could potentially begin extracting lithium from its significant reserves as early as 2028, according to President Aleksandar Vucic in an interview with the Financial Times.
This development could usher in a “real revolution” for both the country and the region.
Jadar Mine’s Production Capacity
President Vucic stated that the Jadar mine, operated by Rio Tinto, could produce up to 58,000 tons of lithium annually. This output would be sufficient to supply 17% of Europe’s electric vehicle production, equivalent to approximately 1.1 million cars.
Discovered in 2004, the lithium reserves in Jadar, western Serbia, are considered among the largest in Europe.
However, the Serbian government halted the mining project in the winter of 2022 following weeks of protests.
Opponents accused Rio Tinto and President Vucic of secrecy and refusing to release environmental impact reports, raising concerns about the potential devastation of the region due to lithium extraction.
Environmental Impact Studies and Assurances
In response to these concerns, Rio Tinto recently published initial environmental impact studies. In these studies, they assure that they will take measures to minimize the environmental impact of the underground mine and waste processing.
President Vucic also mentioned “new guarantees” from both Rio Tinto and the European Union regarding adherence to environmental standards.
Serbia signed a letter of intent with the European Commission in September 2023, establishing a strategic partnership in the field of batteries and raw materials, including lithium.
Lithium is a crucial material for the production of electric car batteries, and this partnership reflects the growing importance of securing a stable supply chain for this essential resource.
Potential Economic and Environmental Implications
The potential exploitation of Serbia’s lithium reserves could have significant economic and environmental implications for the country and the region.
While the economic benefits are evident, concerns about the environmental impact of mining and waste disposal remain. The government and Rio Tinto will need to address these concerns transparently and ensure that the project adheres to strict environmental standards to gain public support and minimize negative consequences.