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The investment follows a Memorandum of Understanding signed in May, outlining an intention to work together to progress the establishment of a “cradle-to-cradle” electric vehicle battery value chain in Serbia. InoBat is actively pursuing plans to build a number of gigafactories, including one in Serbia. Rio Tinto’s $2.4-billion
Rio Tinto and InoBat, a European battery technology and manufacturing company, signed a Memorandum of Understanding to work together to accelerate the establishment of a “cradle-to-cradle” battery manufacturing and recycling value chain in Serbia.
billion to the Jadar lithium-borates project in Serbia, one of the world’s largest greenfield lithium projects. The project remains subject to receiving all relevant approvals, permits and licences and ongoing engagement with local communities, the Government of Serbia and civil society. Rio Tinto has committed $2.4 Earlier post.)
Rio Tinto has approved an additional investment of almost $200 million to progress the next stage of the development of the lithium-borate Jadar project in Serbia. The unique mineral— jadarite —was discovered by Rio Tinto geologists in 2004 near the city of Loznica in Western Serbia.
Rio Tinto disclosed to the Australian Securities Exchange (ASX) a maiden Ore Reserve and updated Mineral Resource at its 100% owned Jadar lithium-borates project in western Serbia. It represents a significant investment for Serbia with both direct and indirect economic benefits, and would become the country’s second largest exporter.
.” Anglo-Australian miner Rio Tinto said on Thursday newly published environmental studies showed that its Serbia lithium project , which was stopped in 2022 after massive protests, would be safe for the environment. If implemented, the USD 2.4
The report also places question marks over projects in Serbia and Spain by InoBat, which recently secured incentives for a joint venture with an American company in Indiana. T&E said that companies’ limited resources to scale up production, as well as the tight supply of raw materials, are making the US-Europe battery race a zero-sum game.
Vucic told the newspaper that “new guarantees” from the global mining giant and the European Union looked set to address Serbia’s concerns over whether necessary environmental standards would be met at the Jadar site in the west of the country. million cars.” million cars.” million cars.”
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