The Economist: Lithium production next big news for Serbian economy

Digital tech is Serbia's current "boom industry", but lithium may be the next, the UK business weekly The Economist said in an article titled "An Unexpected Tech Boom in Serbia."

They write that the digital revolution is at last arriving for Serbs and that, as Europe goes green, more good news may be on the way, saying that “Serbia is sitting on one of the continent’s largest reserves of lithium, an essential ingredient for the batteries of electric cars."

– Tech accounts for at least 6% of Serbia's GDP . It employs some 45,000 people. Foreign firms have spent more than 500 million dollars on Serbian startups in the past six years – The Economist cites Zoja Kukic of the Digital Serbia Initiative (DSI).

Last year's exports are expected to have reached 1.4 billion euros (1.5 billion dollars), an increase of 55% on 2017, the article says.

– While digital tech is Serbia's current boom industry, lithium may be the next. Rio Tinto has invested 200 million dollars to explore a site near Loznica – The Economist says.

Marnie Finlayson, Rio Tinto's general manager for Serbia, says that the ore would be processed on the spot and that it would be Europe's biggest supplier.

Unlike many other lithium mines, this one would be close to where it is needed. Fiat cars are Serbia's second biggest export.

Finlayson says that by 2035 Rio Tinto expects 50% of cars to be electric. If Rio Tinto's board gives the go-ahead, production would begin in 2025.

With all the ancillary industries, she says that might add “a couple of percentage points to GDP,” the report said.

The Economist UK

Rio Sava Exploration d.o.o. Beograd

Rio Tinto plc London

Nordeus d.o.o. Beograd

FCA Srbija Kragujevac

Inicijativa Digitalna Srbija

The Economist

Rio Tinto

Nordeus

Fiat

Digital Serbia Initiative

DSI

Marnie Finlayson

Zoja Kukić

digital technologies

production of lithium