US EditionRio Tinto Postpones Serbia Lithium Project Amid Permitting Delays
Rio Tinto halted its $3.7 billion lithium mine in Serbia due to permitting delays, strong local opposition, and new CEO's focus on capital discipline and cost control.
- Rio Tinto placed the Jadar lithium project into care and maintenance this week, effectively ending a $3.7b development amid permitting delays in western Serbia.
- After Serbia revoked the permit in January 2022 following massive protests by environmental campaigners, the Serbian Constitutional Court ruled this unconstitutional in 2024, while Rio's June 13, 2024 draft impact assessments failed to break the stalemate.
- Production timelines slipped from 2026 to 2028 as Rio says Jadar reserves, discovered in 2004, could annually produce 58,000 tonnes of lithium carbonate, 160,000 tonnes of boron acid, and 255,000 tonnes of sodium sulfate.
- Corporate reshaping followed the mothball decision as Rio made Kellie Parker and Sinead Kaufman redundant on August 27, with Barton saying the company now prioritises capital discipline.
- By prioritising only top projects, Rio is reshaping its lithium strategy as Simon Trott said in October Rio will progress only `the very best` options, while analyst Liam Fitzpatrick noted the board wants losses cut.
16 Articles
16 Articles
Dnevni list Danas
The mining company Rio Tinto has postponed the lithium exploitation project in the Jadar river valley in western Serbia, writes the Bloomberg agency today, referring to the Australian company's internal documents.
Rio sharpens lithium focus
Image: Timon/stock.adobe.comRio Tinto has placed its Jadar lithium project in Serbia on care and maintenance as part of chief executive officer Simon Trott’s strategy to streamline operations and focus capital on higher-priority assets. The move, as reported by the Australian Financial Review, follows regulatory delays and strong community opposition in Serbia. Jadar, discovered in 2004, was once slated for a $3.7 billion ($US2.4 billion) invest…
Rio Tinto streamlines lithium strategy - Australian Resources & Investment
Image: Henri Koskinen/adobe.stock.comeRio Tinto has placed its Serbian Jadar project on care and maintenance as part of chief executive officer Simon Trott’s push to streamline operations and focus capital on higher-priority lithium assets. As reported by The Australian Financial Review, the move follows regulatory delays and strong community opposition in Serbia. Jadar, discovered in 2004, was once slated for a $3.7 billion ($US2.4 billion) inv…
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