On Monday, October 9, 2017, the Government of Serbia adopted the Decision on setting up the working group for the implementation of Jadar Project.
The working group includes representatives of the Government of Serbia and the Rio Sava Group, which belongs to the global mining company Rio Tinto Group that has already invested significant funds in geological researches in the Republic of Serbia.
The Jadar project represents a significant opportunity for the private sector to contribute to the development of the mining industry in Serbia and to be a key driver of foreign direct investments, the Serbian government said in a statement.
As it is said when signing the Memorandum of Understanding, the beginning of lithium production in the vicinity of Loznica is planned to start in 2023, and so far Rio Tinto has invested EUR 90 million in the Jadar project.
The company has recently announced that the reserves of jadarite mineral at the site near Loznica were estimated at 136 million tons.