Jadarite

The plant will be manufacturing aluminum car parts.

Lithium

Aleksandar Vucic said on Thursday Rio Tinto's Jadar Project would be a major development boom for Serbia and its Podrinje region, which has 10 percent of the world's lithium deposits.

They are reporting about Serbian President Aleksandar Vucic's announcement made in Davos that Chinese companies could set up an electric vehicle plant in western Serbia, in the area between Prijepolje to Krupanj.

The Serbian president asked them to continue and accelerate the works, noting the project was hugely important for Serbia, Tanjug is reporting.

According to estimates, a large number of people could be working in western Serbia from 2024, when jadarite mining is expected to begin there, Vucic told reporters after the meeting.

They discussed the project Jadar, which entails the research and development of lithium deposits in the vicinity of Loznica, in western Serbia.

The delegation of this company included Executive Director of Rio Tinto Energy and Minerals Production Group Bold Baatar and Executive Director for Development and Innovation Stephen McIntosh, the Serbian government announced.

Besides the team from the Faculty of Organizational Sciences (FON) of the University of Belgrade, students from 20 prestigious universities and business schools from all over the world are taking part.

Brnabic spoke with Executive Director of Rio Tinto Energy and Minerals Production Group Bold Baatar and Head of Rio Tinto Ventures Andrew Latham, who are in charge of the development of the lithium-borate project Jadar near Loznica in Western Serbia.

The investment will be made in cooperation with the Australian company Raiden Resources, which owns licenses for exploration near this eastern Serbia town, writes the website SEEbiz.

With the investment, Rio Tinto will hold 75 percent ownership of these exploration rights.

BELGRADE - A memorandum of understanding signed on Monday by the Serbian government and the company Rio Tinto should enable the implementation of the Jadar project, a lithium exploration effort near Loznica, western Serbia.

The world-class lithium-borate deposit, estimated at 200 million tonnes, will be able to generate over 10 percent of the global lithium output.

BELGRADE - Serbian Minister of Mining and Energy Aleksandar Antic has met with officials of the Rio Tinto company, who briefed him on the progress in jadarite deposit explorations, Rio Tinto's most significant project in Serbia.