The council of Loznica, population around 20,000 about 100 km west of Belgrade, is deciding whether to amend its official plan to allow the 250-hectare development.
US-based Atlas last year raised $27 million for its nickel technology and said it aims to launch production at sites in Canada or the US by 2027 at commercial scale.
The companies were assessed against criteria based on internationally recognized frameworks, including the UN Guiding Principles on Business and Human Rights.