Serbia: Rio Tinto invests over USD 20 million in Jadar project development in Serbia, possible construction of ore processing plant near Loznica, Investors
Rio Tinto announced today that it was going to invest over USD 20 million by the end of 2017 in the preparation of a feasibility study on the Jadar lithium and boron project in Serbia, adding that the Serbian government had given it the nod to carry out geological research on that project.
This company has so far invested over USD 70 million in the development of the Jadar project in the vicinity of Loznica.
It was also stressed that Serbia was still the only place in the world where deposits of jadarit ore can be found, which is a new mineral discovered in Serbia in 2004 by the geologists of Rio Sava, a subsidiary of the Rio Tinto Group.
The Jadar area has one of the world’s largest deposits of lithium ore, and it is also rich in boron. If implemented, the Jadar project will include a modern mine and an ore processing plant, and it could meet more than 10% of the global demand for lithium for further production purposes, including the production of batteries and electric vehicles, Rio Tinto announced.
Over the next two years, the project team of this company is going to prepare numerous studies in order to assess as precisely as possible the technical, ecological, economic and social sustainability of the project.
Rio Tinto is one of the world’s largest mining companies, with a headquarters in Great Britain, and it has founded the company Rio Sava Exploration in Serbia.
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