Rio Tinto keen for talks to revive Serbian lithium project
By Sonali Paul
MELBOURNE (Reuters) -Rio Tinto is raring to reopen talks with the Serbian authorities about its $2.4 billion Jadar lithium undertaking, which was blocked forward of the nation’s latest election, the corporate’s chief govt and chairman mentioned on Thursday.
The Serbian authorities revoked licenses for the Jadar undertaking in January after large protests sparked by environmental issues concerning the deliberate mine.
“We very a lot hope that we can talk about all the choices with the federal government of Serbia now the elections are out of the best way,” Thompson informed shareholders on the firm’s Australian annual assembly, in Rio Tinto’s first public feedback following the election.
Serbian President Aleksandar Vucic overwhelmingly gained re-election in April however his celebration fell wanting forming a authorities in its personal proper.
The Jadar undertaking, which may provide 90% of Europe’s present lithium wants, was “essential for Serbia” because it may enhance the nation’s financial output and open up alternatives for the event of a downstream enterprise to provide inexperienced expertise to the European automotive market, Thompson mentioned.
Chief Govt Jakob Stausholm mentioned the worldwide miner continues to be pushing forward with plans to grow to be a lithium producer, making an attempt to speed up the Rincon undertaking it acquired in Argentina in December.
“However we have definitely not given up on Jadar, as a result of, fairly frankly it is an ideal undertaking,” Stausholm informed reporters following the annual assembly.
He mentioned the undertaking has “impeccable” environmental, social and governance credentials.
Below Serbian guidelines, the corporate couldn’t launch its environmental and social affect evaluate of the undertaking forward of gaining authorities approval, which Thompson mentioned gave rise to misinformation concerning the undertaking circulating forward of the election in Serbia.
“We definitely perceive the issues of the local people, but it surely’s our perception that really these issues are very largely addressed by the environmental and affect assessments that we’ve got carried out,” mentioned Thompson.
Rio Tinto is hyper alert to neighborhood issues after sparking a widespread public outcry after destroying 46,000-year-old caves in Western Australia for an iron ore mine – a catastrophe which prompted Thompson to step down. He retired following Thursday’s annual assembly.
Rio’s local weather motion plan, which the corporate put to a vote for the primary time this 12 months, gained 84% assist from shareholders throughout its UK and Australian base, outcomes launched after the Australian AGM confirmed.
The corporate has dedicated to chopping emissions from its operations by 15% by 2025 and 50% by 2030 and dealing with its clients and suppliers to scale back its oblique, or Scope 3, emissions.
