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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. The project under study consists of an underground mine, sustainable industrial processing and waste facilities as well as associated infrastructure.
It will take at around 9-12 months before we start supplying from this facility. This facility, which specialises in driveline solutions for EVs, will help the company enhance its supply chain efficiency and respond more effectively to customer demand in the North American region. If one thinks they have less, they will generate more.
We are seeing strong interest in the market for a North American supply of spodumene concentrate to support production of lithium batteries. Rio Tinto also recovers battery-grade lithium from waste material using a process at its Boron operations in California and owns the Jadar lithium-borate project in Serbia.
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