Video: Gold mining faces a cliff after 2025, CRU analyst predicts
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
Serbian President Aleksandar Vucic is preparing to give Rio Tinto the green light to develop Europe’s largest lithium mine two years after Belgrade called off the project, the Financial Times said on Sunday.
Vucic told the newspaper that “new guarantees” from the global mining giant and the European Union looked set to address Serbia’s concerns over whether necessary environmental standards would be met at the Jadar site in the west of the country.
Rio Tinto said in a statement emailed to Reuters: “We believe the Jadar project has the potential to be a world-class asset that could act as a catalyst for developing an EV (electric vehicle) value chain in Serbia”.
Regarded as a critical material by the EU and the United States, lithium is used in batteries for EVs and mobile devices.
“If we deliver on everything, (the mine) might be open in 2028” Vucic told the FT, adding that the mine was projected to produce 58,000 tons of lithium per year which would be “enough for 17% of EV production in Europe — approximately 1.1 million cars.”
In 2022, Belgrade revoked licences for Rio’s $2.4 billion Jadar project after massive environmental protests. If completed, the project could supply 90% of Europe’s current lithium needs and help to make the company a leading lithium producer.
In 2021 and 2022 Serbian environmentalists collected 30,000 signatures in a petition demanding that parliament enact legislation to halt lithium exploration in the country.
(By Gursimran Kaur; Editing by William Mallard and Hugh Lawson)
Related Article: Environmental studies show Serbian lithium project is safe, Rio Tinto says
13 Comments
Ivan
Selloff.
Cheap politicians, extremely expensive price for the people and nature.
Maria
Using the most fertile land for mining, jeopardizing streams of healthy waters which will be needed in the future is something that Serbian people will not allow no matter what Government of Serbia announces. We will fight strongly.
Lepi Bajro
There are lithium deposits in Croatia and Austria as well, why don’t they mine there? Because of horrific environmental consequences. Serbia makes much more profit from agriculture in the area then it will make from royalties. Underground water streams in the area supply a good part of the country with clean water which will be destroyed by acids used in processing the ore. And safety analysis by Rio Tinto is not even funny. Stay in Canada and dig there Rio!
N
Lord protect us from corrupted politicians and environmental consequences… I would like to add there was 300 000 signatures not 30000 that is a big difference in numbers for news.. Also there are sodium batteries that are going to retake EV in few years, why destroying environment?
Natalija
President is there to sell everything, we are here to fight for it.
Misho
Back in 2022 all negotiations were stopped and then Prime Minister Ana Brnabić held a press conference about Rio Tinto not mining in Serbia and that the project was scraped, after the nation wide protests and signed petition of around 295.000 people. The petition famously “vanished” after it was turned over to the authorities and it was proven that high state officials were involved with secret negotiations with this company afterwards.
Dusan
Goverment of Serbia stoped the project.
It will not be finalized never, ever.
Voice of the locals.
Vladimir
No way. Rio Tinto can get only RED LIGHT
Better not to try. Be smart Rio Tinto. Read history books about Serbia.
Dragan Ragus
There will be no mine,but there might be uprising….
Dejanović
IT will not happend. People will not accept devastation of large parts of western Serbia
Lex
President of Serbia is very much aware his life, his colleagues lives and their families lives will be put in jeopardy if he is placed responsible for allowing the lithium mining to be done anywhere in Serbia. Their political campaign would be the least of their worries, the world is a small place and no amount of money can help you hide if you wrong the people.
Zivko Petkovic
Joke 🤣🤣🤣🤣🤣🤣🤣🤣
Rio Tinto no mmining lithijum ih Serbia.
David
Rio Tinto has an appalling record when it comes to mining. 58,000 T of lithium mining per year requires 29,000,000,000 litres of water. Serbian water system will be poisoned , distraction of human life on mega scale. Serbia say NO to Rio Tinto.