Rio Tinto Commits $2.4 Billion to Serbian Lithium Project
July 27 2021 - 1:32PM
Dow Jones News
By Anthony O. Goriainoff
Rio Tinto PLC said Tuesday that it has committed $2.4 billion to
the Jadar lithium project in Serbia which remains subject to the
granting of relevant approvals, permits and licenses.
The London- and Australia-listed mining company said the project
would scale up its exposure to battery materials, and demonstrate
its commitment to investing capital to further strengthen its
portfolio for the global energy transition.
"Jadar will produce battery-grade lithium carbonate, a critical
mineral used in large scale batteries for electric vehicles and
storing renewable energy, and position Rio Tinto as the largest
source of lithium supply in Europe for at least the next 15 years.
In addition, Jadar will produce borates, which are used in solar
panels and wind turbines," the company said.
Write to Anthony O. Goriainoff at
anthony.orunagoriainoff@dowjones.com
(END) Dow Jones Newswires
July 27, 2021 13:25 ET (17:25 GMT)
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