Name of the Project
Jadar lithium-borates project.

Location
Near the City of Loznica, in western Serbia.

Project Owner/s
Rio Tinto.

Project Description
Jadar will be one of the biggest industrial investments in Serbia.

The project will produce battery-grade lithium carbonate, a critical mineral used in large-scale batteries for electric vehicles and in storing renewable energy, and position Rio Tinto as the biggest source of lithium supply in Europe for at least the next 15 years.

In addition, Jadar will produce borates, which are used in solar panels and wind turbines.

The Jadar development will include an underground mine with associated infrastructure and equipment, as well as electric haul trucks and a beneficiation chemical processing plant.

Following ramp-up to full production, the mine will produce about 58 000 t/y of lithium carbonate, 160 000 t/y of boric acid and 255 000 t/y of sodium sulphate, making Rio Tinto one of the top ten lithium producers in the world. Based on this annual production of lithium carbonate, Rio Tinto aims to produce 2.3-million tonnes of lithium carbonate over the expected 40-year life-of-mine.

Potential Job Creation
The project will create 2 100 jobs during construction and 1 000 mining and processing jobs once in production.

Net Present Value/Internal Rate of Return
Not stated.

Capital Expenditure
Rio Tinto has committed $2.4-billion to the Jadar project.

Planned Start/End Date
Construction is expected to start in 2022. First saleable production is expected in 2027, with full production expected in 2029.

Latest Developments
The Serbian government has revoked its lithium exploration licences for the Jadar project amid environmental concerns.

The decision comes as it approaches a general election in April, and as relations between Serbia and Australia have soured after the deportation of tennis star Novak Djokovic from Australia, over the country's Covid-19 entry rules, before he could play in the Australian Open.

It is also a major setback for Rio, which was hoping the project would help make it one of the world's ten-biggest producers of lithium, a key ingredient in batteries.

The mine is Rio's only lithium project and the company announced just a month ago a deal to buy a second lithium asset for $825-million to build its battery materials business.

Rio has already spent US$450 million in prefeasibility, feasibility and other studies on Jadar to understand the nature of the deposit.

Experts have said that the global shortage of lithium had been forecast to last for at least another three years, but with the cancellation of the Jadar project, the shortfall will now last for several years.

Rio recently pushed back the timeline for first production from Jadar by one year to 2027, citing delays in approvals.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Rio Tinto, email media.enquiries@riotinto.com.