Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Serbia backs out of controversial Rio Tinto lithium mine

Thu, 20th Jan 2022 18:23

(Alliance News) - Serbian authorities have abandoned plans to build a controversial lithium mine, the country's prime minister said Thursday, following weeks of protests against the project set to be built by Rio Tinto PLC. 

The surprise U-turn from the government comes months ahead of likely parliamentary elections with President Aleksandar Vucic's administration looking to shore up support from voters following weeks of protests that gained traction across the Balkan country. 

"We have fulfilled all the demands from the environmental protests and have put an end to Rio Tinto in the Republic of Serbia," said premier Ana Brnabic during a televised address. 

"Everything about the Jadar project is finished," she added, referring to the mine that was set to be built in western Serbian.

Vast deposits of lithium – a key component for electric car batteries – are found around the western town of Loznica, where the Anglo-Australian company had bought up land and was awaiting a final green light from the state to begin mining.

Rio Tinto discovered lithium reserves in the Loznica region in 2006.

The company had intended to invest USD2.4 billion in the project.

Critics of the project, however, accused Vucic's government of paving the way for illegal land appropriations and brushing aside environmental concerns.

source: AFP

Copyright 2022 Alliance News Limited. All Rights Reserved.

Related Shares

More News
23 Apr 2024 16:55

LONDON MARKET CLOSE: FTSE 100 gains pared after hitting record high

(Alliance News) - European equities ended higher on Tuesday, with the FTSE 100 hitting its best level, before succumbing to some selling pressure in a...

23 Apr 2024 15:19

Europe close: Stocks rise as investors digest PMI data

(Sharecast News) - European markets closed above the waterline on Tuesday, propelled by positive survey data from the eurozone that bolstered investor...

23 Apr 2024 01:34

Rio Tinto, Eramet and LG Energy seek to develop lithium extraction tech for Chile

SANTIAGO, April 22 (Reuters) - Miners Rio Tinto and Eramet as well as battery maker LG Energy were among 30 companies that submitted proposals to d...

18 Apr 2024 13:52

IN BRIEF: Anglesey Mining appoints Robert Marsden as new CEO from May

Anglesey Mining PLC - Mining company with operations in Wales, Sweden and Canada - Appoints Robert Marsden as new chief executive officer from May 1. ...

18 Apr 2024 09:43

LONDON BROKER RATINGS: HSBC likes Haleon, cuts Flutter to 'hold'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.