PERTH (miningweekly.com) – Diversified miner Rio Tinto has signed a memorandum of understanding (MoU) with European battery technology and manufacturing company InoBat to collaborate on the establishment of a ‘cradle to cradle’ battery manufacturing and recycling value chain in Serbia.

Rio said in a statement that the partnership would cover the full commodity life-cycle from mining through to recycling of lithium.

“This collaboration with InoBat will enable an important exchange of knowledge and information on lithium processing, recycling and technologies for the next generation of batteries. It is a visionary initiative and one that is aligned with Rio Tinto’s commitment to partnerships that provide solutions to combat climate change,” said Rio MD for borates and lithium Marnie Finlayson.

Rio’s Jadar project, in Serbia, one of the largest greenfield lithium projects in development, has the potential to produce approximately 55 000 t of battery grade lithium carbonate in Europe, one of the world’s largest growing electric vehicle markets.

It is envisaged the collaboration between Jadar and InoBat will also encourage the development of a complete European lithium and electric vehicle battery value chain that will harness and enhance local skills, environmental, social and governance standards and cross-border interactions for the benefit of Serbia and other European economies that wish to collaborate.

“The signing of an MoU with Rio represents an important step in achieving InoBat’s goal to utilise a European-based value chain and support the European bid for technological independence. Our unique ‘cradle to cradle’ approach covers the whole life-cycle of batteries from mining to recycling, in order to underpin circular economy efforts and the Agenda 2030 Sustainable Development Goals,” said InoBat Auto CEO Marian Bocek.

In 2020, Rio approved an investment of almost $200-million to complete the final phase of study at the Jadar project, which is expected to be finalised in 2021, with an investment decision to follow.

The scale and high grade nature of the Jadar deposit provides the potential for a mine to supply lithium products into the electric vehicle value chain for decades, the miner said.

If approved, construction of a mine to the highest environmental standards would take up to four years and would be a significant investment for Serbia with direct and indirect economic benefits to the Serbian economy.