What's going on with Serbia's lithium mining deal?

The deal comes amid a global race to secure access to lithium, a key material for batteries. Serbia is expecting major investments in its controversial mining project. The European Union and Serbia signed a deal on Friday to develop a lithium mining project and production chains for batteries essential for electric vehicles.

Why did Europe and Serbia sign a lithium deal?

Belgrade (AFP) – The European Union and Serbia signed a deal Friday to develop the supply of lithium seen as a crucial building block to achieve Europe's transition to a green economy. Issued on: 19/07/2024 - 05:19 Modified: 19/07/2024 - 16:21

Will Serbia's 'lithium deal' be a green Boon?

Serbia's "lithium deal" is coming back as part of an initiative that officials in Brussels, Belgrade and Berlin hope will be a huge green boon for the continent. A rather sudden and under-the-radar meeting took place in Serbia's capital last week.

Will Serbia develop a full lithium value chain?

Vučić said Serbia wanted to develop a full lithium value chain at home, including battery factories, and so would only sell some of the lithium mined at the Jadar site abroad as raw material. He said the country had received “positive feedback” from its talks with European carmakers, including Mercedes, VW and Stellantis.

How much lithium will Serbia produce a year?

Vučić says Serbia will produce 58,000 tonnes a year of lithium, or 17 per cent of EU demand. That would be enough for 1.1mn electric cars. Vučić said Chinese carmakers had expressed an interest in buying the lithium, but “we told them that we are discussing this issue with the Europeans. We are loyal to Europe . . .

Will Serbia meet Europe's lithium demand?

The Serbian government said it aims to meet at least 20% of Europe’s lithium demand. For Europe's green transformation, the prospect of a huge lithium supply in the heart of the continent would be a huge relief. Most of the lithium Europe uses currently comes from Asia and South America.