Rio Tinto welcomes Serbia's reinstatement of Jadar lithium project licence (updated)

Antimony Resources

16/07/2024 14:41

(Updates with government, Rio statements, background)
       LONDON/BELGRADE, July 16 (Reuters) - Mining group Rio
Tinto  RIO.L   RIO.AX  welcomed on Tuesday a Serbian government
statement that it would reinstate a spatial plan licence for its
Jadar project, a first step towards resuming development of
Europe's biggest lithium mine
    That followed a Serbian court ruling on Thursday that
overturned the 2022 government decision to annul Rio's licence
in response to protests from local environmentalists.
    Welcoming the decision, Rio said in a statement that the
project will be subject to stringent environmental requirements
including an "extended phase" of legal, environmental and
permitting procedures and public consultations before it is
implemented.
    In a statement on Thursday the government said that to
comply with the court ruling it is taking measures to reverse to
the situation prior to its previous decision. 
    Government officials were not available to comment further
on the statement.     
    If developed, the $2.4 billion Jadar lithium project in
Western Serbia could cover 90% of Europe's current lithium needs
and help make the company a leading lithium producer.
    There is strong opposition to the project among activists
and opposition parties in Serbia. They have threatened to
radicalise protests by blocking roads and railways if the
project is revived. 
    Minister of Mining and Energy Dubravka Djedovic Handanovic 
told Tanjug news agency the Jadar project "represents the future
of Serbia's economic positioning in Europe". 
    "It would not be responsible to ignore that possibility,"
she said. 

 (Reporting by Clara Denina and Ivana Sekularac, additional
reporting by Aleksandar Vasovic; Editing by Alison Williams and
Jan Harvey)
 ((Clara.Denina@thomsonreuters.com;))