Rio Tinto approves lithium investment
Rio Tinto will invest US$2.4 billion to develop the Jadar lithium-borates operation in Serbia. Once production starts, Rio Tinto will become the largest supplier of lithium in Europe for the next 15 years. In addition to producing lithium carbonate to be used in electric vehicles, the project will also produce borates to be used in solar panels and wind turbines. This latest project in Serbia has the potential to produce enough lithium to power in excess of one million electric cars per year and is expected to create 2100 jobs during its construction phase and 1000 mining and processing jobs.
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