Balancing Economic Development and Environmental Protection: Rio Tinto’s Lithium Mining Project in Serbia

Rio Tinto, a mining company, is set to receive a concession to mine lithium in Serbia. This comes after President Aleksandar Vucic made the agreement conditional on certain considerations. Environmental groups have expressed concerns about the potential impact of the project.

In 2019, the Serbian government had announced that they would end plans to mine lithium in the Jadar Valley in western Serbia. However, President Vucic recently hinted at reviving the project in an interview with Financial Times. If successful, the project could restart as early as 2028.

Protests erupted across Serbia at the end of 2021 when news was announced that there would be lithium mining near Loznica in the Jadar Valley. Opponents of the project were concerned about its effects on water supply and environment, as well as its impact on local landscape and communities. The controversy surrounding this mining project has geopolitical implications too; it’s an important source of raw materials for electric car batteries production and hence it’s of interest to European Union (EU) and Germany.

There are concerns about environmental impact but also economic benefits and reduced dependence on China make it strategic for region, critics say that Rio Tinto didn’t conduct independent or transparent environmental studies which sparked debate about balancing economic development with environmental protection in Serbia. The decision by President Vucic represents a complex intersection of interests that will shape country’s energy future and relationship with international partners