The Government of Serbia and the company Rio Tinto signed a Memorandum of Understanding today which is supposed to enable the implementation of the Jadar project, pertaining to lithium site exploration in the Loznica area. The production is planned to begin in 2023.
– Rio Tinto has so far invested EUR 90 million in the Jadar project, and the production is planned to begin in 2023, which confirms the longevity and the stability of the project – said Prime Minister Ana Brnabic.
In order for the local economy to develop evenly, the prime minister says, it is necessary to initiate local economic development, and the Jadar project will have a considerable impact on the development of Loznica and the entire region.
– The project involves local and foreign experts, who, in addition to social and economic parameters, pay special attention to environmental protection as well, without which any further progress is unimaginable – Brnabic said.
This is a world-class site, which will be able to generate more than 10% of the global production of lithium. The Memorandum was signed at the Government of Serbia by Minister of Mining and Energy Aleksandar Antic, the managing director of Salt Uranium and Borates, Simon Trott, and the general manager of Rio Sava Exploration, Richard Storrie.
If the project gets all the necessary approvals, Rio Tinto plans to invest considerable funds in its development – the construction of a mine and a new, innovative technology for processing jadarite.
The Jadar project, under the patronage of Rio Tinto Minerals, is an important, world-class lithium and boron deposit. Due to high concentrations of lithium and boron and a geological site estimated at 200 million tons, Jadar is considered one of the biggest lithium deposits in the world.