- EU and Serbia sign historic lithium mining agreement
- Serbia reinstated Rio Tinto’s licence to mine lithium in the Jadar Valley
- Rio Tinto’s Jadar project could meet up to 90% of Europe’s current lithium needs
- An agreement was signed to establish a strategic partnership on sustainable raw materials, battery production, and electric vehicles
- The deal aims to reduce Europe’s reliance on Chinese lithium supplies and maintain European sovereignty
EU and Serbia sign historic lithium mining agreement
The EU has praised a new lithium mining agreement with Serbia as a “historic day for Serbia and Europe,” concluding a competitive race to finalise the deal.
On Tuesday, Serbia reinstated mining giant Rio Tinto’s licence to extract lithium in the Jadar Valley. By Thursday, German Chancellor Olaf Scholz visited Belgrade, highlighting the deal’s importance for Europe’s economic security and emphasising its benefits for Germany’s auto industry.
With the transition to zero-emission vehicles accelerating, carmakers need more lithium for batteries. Rio Tinto’s Jadar project could potentially meet up to 90% of Europe’s current lithium needs.
On Friday, European Commission Vice-President Maros Sefcovic attended a “critical raw materials summit” in Belgrade, joined by top European companies like Mercedes-Benz and Stellantis, which together represent almost a quarter of Europe’s car sales. They signed an agreement to establish a strategic partnership on sustainable raw materials, battery production, and electric vehicles.
Scholz celebrated the deal, noting it would reduce Europe’s reliance on Chinese lithium supplies and help maintain European sovereignty. He praised Serbia’s decision to lift the lithium mining ban, which was previously imposed due to protests over environmental concerns and transparency issues.
Despite assurances from Serbian President Aleksandar Vucic, environmental concerns remain about the impact on food and water sources in the Jadar Valley.