EU and Serbia Sign Lithium Deal With EV Production in Focus
- EU carmakers may tap Rio Tinto $2.4 billion lithium project
- Officials vow mine won’t harm environment to allay concerns
Sample trays of jadarite, containing lithium and borate, at the Rio Tinto Group research center in Loznica, Serbia.
Photographer: Oliver Bunic/BloombergThis article is for subscribers only.
Serbia and the European Union signed a framework agreement on providing critical raw materials across the bloc as the Balkan nation seeks to leverage a planned lithium mine to become a hub for electric vehicle production.
The venture that aims to solidify supply chains of critical raw materials to Europe has been overseen by German Chancellor Olaf Scholz and Serbian President Aleksandar Vucic, who sealed an agreement in Belgrade on Friday. The move comes after reactivation last week of a $2.4 billion project by global miner Rio Tinto Group to develop Europe’s biggest lithium mine.