Rio Tinto prepares $2.4bn for a mine in Serbia: They say it's their biggest greenfield in the world

Photo: Nikola Tomic

Rio Tinto has set aside $2.4 billion for the construction of a lithium borate mine and processing plant as part of the Jadar Project in Loznica, one of the largest lithium greenfield projects in the world, the company said.

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The Jadar project must obtain all necessary approvals, permits and licenses and will continue to be implemented in cooperation with the local community, the Government of the Republic of Serbia and the non-governmental sector, a statement said.

"This is an important milestone for the project and a strong confirmation of Rio Tinto's commitment to support Serbia as a leading supplier of lithium, having in mind the volume and high quality of the composition of the Jadar deposit," Rio Tinto said in the statement.

"The realization of the Jadar project will position Rio Tinto as the largest producer of lithium in Europe for at least the next 15 years. In addition, Jadar is planned to produce borate used in the development of equipment for renewable energy sources such as solar panels and wind turbines," the statement said.

It recalls that the Jadar Project includes an underground mine with associated infrastructure and equipment, including electric traction vehicles, as well as a lithium-carbonate chemical processing plant of quality suitable for production of batteries.

"In order to reduce the impact on the local community to a minimum, the mine will be built in accordance with the highest environmental standards, including the use of dry stacking of industrial waste. This innovative method enables for gradual recultivation of dry waste with vegetation and soil, without the need to build a dam for liquid waste," Rio Tinto said.

It is announced that after construction, the Jadar complex will be a modern industrial plant with a digitally networked underground mine, which is monitored in real time from an operations center.

It is stressed that Jadar will be the largest mining and processing investment in Serbia, which has the potential to contribute to Serbia's GDP directly with one percent and four percent indirectly, including many Serbian suppliers during the mine construction phase.

The realization of the project will enable Jadar to become a large employer in Serbia and the region, states Rio Tinto.

Rio Tinto added that the next steps in the implementation of the project are obtaining approvals for the exploitation field, as well as all permits and approvals, which includes the approval of the Environmental Impact Assessment Study.

The company, in accordance with regulations of the Republic of Serbia, is inviting all interested parties to participate in the process of public discussion about the environmental study.

It is added that approval of the study is necessary for the start of works, while construction of the mine is planned to start during 2022.

(Telegraf Biznis)