Rio Tinto To Initiate Largest European Lithium Project By 2028
Portfolio Pulse from Stjepan Kalinic
Rio Tinto (NYSE:RIO) is set to receive approval from Serbia to develop Europe's largest lithium mine, the Jadar project, by 2028. This project aims to produce significant amounts of lithium carbonate, boric acid, and sodium sulfate, crucial for the EV industry and other industrial applications. Despite past environmental concerns and opposition, new guarantees from Rio Tinto and the EU have addressed these issues, leading to the project's revival.
June 17, 2024 | 1:12 pm
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Rio Tinto is set to receive approval from Serbia to develop the Jadar lithium project by 2028, which will significantly boost Europe's EV industry and Rio Tinto's revenues. The project had faced environmental opposition but has now received new guarantees addressing these concerns.
The approval of the Jadar project will likely have a positive impact on Rio Tinto's stock price due to the significant production of lithium carbonate, which is crucial for the EV industry. The resolution of past environmental concerns and the involvement of the EU further solidify the project's viability.
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