We have been working on this for several years, one step at the time, making sure that everything we do is with the future in mind
Serbia is rich with mineral resources and has a long tradition of mining. The mining sector in Serbia is experiencing a revival and I am thrilled that we are part of it, says Vesna Prodanović, General Manager of Rio Sava Exploration doo for Diplomacy&Commerce magazine.
The total investment of “Rio Tinto” in the research and development of the “Jadar” project exceeds $450 million. What does this mean for the company and for Serbia and the local community?
The investment of $450 million speaks about the significance of the Jadar project and its magnitude, complexity and potential. It’s also important to note that this investment is only for the prefeasibility phase and the current feasibility phase of the project. We are currently in the Feasibility Study phase which is expected to complete by the end of 2021, following which we will seek investment approval for development. If we obtain the necessary approval, construction can commence in early 2022 and will take up to four years.
Jadar represents a strategic development opportunity for Serbia and it will contribute to the development of the mining and industrial sector. It can also be a catalyst for Serbia as an investment destination for the green economy supply chain, a key future industry.
When do you expect to complete explorations and what is needed for Jadar to become a long-term and sustainable investment?
We always take a long-term perspective, and sustainability has been a key focus on our pathway to develop the Jadar project. We have been working on this for several years, one step at the time, making sure that everything we do is with the future in mind. The goal of all our exploration and study activities is the safe and sustainable development of the project in a manner that will benefit all stakeholders.
We have now completed all geological exploration activity and are busy with the Feasibility Phase, where we complete all necessary analyses that are an integral part of the environmental impact assessment study and preparing the necessary design and technical documentation for the future underground mine, processing plant and associated infrastructure.
This complex and comprehensive documentation will support our applications for the necessary permits at the end of the Feasibility phase.
How do you assess the mining sector in Serbia and what should be Serbia`s priorities to improve this sector and attract more investors?
The mining sector in Serbia is experiencing a revival and I am thrilled that we are part of it. Serbia is rich with mineral resources and has a long tradition of mining. A growing number of companies conducting research in Serbia. The fact that the mining sector increased production by 3.8% in the first six months of 2020 in the midst of a global pandemic, tell us that mining is one of the most dynamic parts of the Serbian economy.
“When developed, Jadar will make Serbia an investment destination for the green economy”
Our company, as one the global leaders in terms of mining and related health, safety and environmental standards, is well positioned to contribute to the Serbian mining sector. Together with the Government of Serbia and other industry players, we remain dedicated to changing the image of mining in Serbia and are proud to contribute to Serbia’s ambitious reform agenda.
What will be the overall impact of this project on the development of a green economy in Serbia?
When developed, Jadar will make Serbia an investment destination for the green economy. With the global focus on sustainable technologies and a particular focus on emissions reduction –electric vehicles will be a major part of the solution. Here, lithium will play a key role – not just in batteries for cars, but also in large scale utility applications like energy storage for wind and solar power generations systems. Lithium is increasingly recognized as critical to the future, with the EU in 2020 placing lithium on a list of 30 critical minerals that are crucial for the sustainable development of the European economy.
Lithium, and why it is necessary
Lithium and its various applications have a key part to play in the green solutions that we need for a sustainable world
These days, environmentally conscious investments and investment criteria are gaining importance, and many industries must find alternatives to their previous practices, material usage being one of them. Enter Lithium, an element capable of making a lot of our day-to-day necessities “greener”. But lithium is rare, and to completely understand how privileged we are to have what we have in Loznica, we must first understand a few scientific terms. Let’s start with Clarke. So, what is a Clarke? Clarke is a unit that denotes the relative abundance of a chemical element in our case in Earth’s crust in percentage terms. To put into perspective how rare lithium is, the Clarke number for Oxygen is ≈47%, and for Silicon ≈25%. In comparison, lithium’s Clarke number is 0.0018%. To put into perspective just how much Lithium Serbia has – the Jadar deposit alone has the potential to meet about 10% of the current global demand for this element. It is also worth noting that since September last year, Lithium has a place on the list of 30 mineral materials crucial for the sustainable planning of the EU’s economy.
“Since September last year, Lithium has a place on the list of 30 mineral materials crucial for sustainable planning of EU’s economy”
And what do we need lithium for, anyway? What are the uses of this element? It finds use in many industries and applications including medicine, metallurgy, ceramics and many more. But perhaps the most talked about the role of Lithium today is its use in batteries, for example in electric cars. Lithium-ion batteries have caused a revolution of sorts, even the Nobel prize for chemistry in 2019 was awarded for the development of lithium-ion batteries. And why? Because Lithium and its various applications have a key part to play in the green solutions that we need for a sustainable world.