Diversified giant Rio Tinto has approved a $200-million investment to fund feasibility work at the Jadar lithium/borate project, in Serbia.
The miner said this week that the feasibility work would include the completion of detailed engineering designs, as well as permitting and land acquisition by the end of 2021, in line with the initial project schedule.
“Rio’s lithium project pipeline is an important part of our vision to pursue opportunities which are part of the transition to a low-carbon future. We look forward to working closely with the government of Serbia over the next eighteen months as we develop and validate our understanding of the project to the point when we can seek a final investment decision by the board of Rio Tinto,” said energy and minerals CEO Bold Baatar.