📋 Tender Overview
Scope The development of an underground mine an industrial processing facility and all associated infrastructure in Serbia.Life of Mine 40 yearsRio Tinto has decided to invest 2.4bn to develop the Jadar lithium-borates project in Serbia to serve the European electric vehicles market. Through the underground mining project Rio Tinto aims to become the largest supplier of lithium in Europe for at least the next 15 years. The company expects to achieve the first saleable production from the project in 2026.The Jadar project would scale up Rio Tintos exposure to battery materials and demonstrate the companys commitment to investing capital in a disciplined manner to further strengthen its portfolio for the global energy transition.Jadar will produce battery-grade lithium carbonate a critical mineral used in large scale batteries for electric vehicles and storing renewable energy and it is the largest source of lithium supply in Europe for at least the next 15 years. In addition Jadar will produce borates which are used in solar panels and wind turbines.Some non-governmental organization have lined up against the project on environmental grounds. 124000 people have signed a petition opposing the project.Previous Event30 July 2020Rio Tinto progresses the Jadar lithium project to the feasibility study stage.
