Rio Tinto has approved a new investment of USD 200 million for the further development of the lithium-boron Jadar project in Serbia.
The investment was announced at a video-link meeting between Serbian Prime Minister Ana Brnabic and representatives of the international mining and metal group.
As announced on the government's website, this decision is the result of the adoption of a previous feasibility study of the Jadar project, and the company Rio Tinto has so far invested more than USD 250 million.
The Prime Minister emphasized that the continuation of their business on the mentioned project near Loznica is of exceptional importance for Serbia, especially during the coronavirus pandemic that the whole world is facing.
She emphasized the importance of adopting the previous Feasibility Study for the continuation of the project, emphasizing that it is good news, not only for the government of Serbia, which directly cooperates with Rio Tinto, but also for the local community.
The mentioned project includes work on the development of the underground mining mine and the construction of an industrial plant for metallurgical-technological processing of jadarite concentrate, the beginning of which can be expected at the end of 2021.