Serbia lithium battery supply

What's going on with Serbia's lithium mining deal?

The deal comes amid a global race to secure access to lithium, a key material for batteries. Serbia is expecting major investments in its controversial mining project. The European Union and Serbia signed a deal on Friday to develop a lithium mining project and production chains for batteries essential for electric vehicles.

Why did Europe and Serbia sign a lithium deal?

Belgrade (AFP) – The European Union and Serbia signed a deal Friday to develop the supply of lithium seen as a crucial building block to achieve Europe's transition to a green economy. Issued on: 19/07/2024 - 05:19 Modified: 19/07/2024 - 16:21

Where is lithium found in Serbia?

Serbia has vast lithium deposits near the western city of Loznica, where a mining project being developed by Anglo-Australian mining giant Rio Tinto has been a perennial political fault line in the Balkan country in recent years.

Who makes lithium batteries in Europe?

They included Mercedes-Benz and Stellantis, who between them account for almost a quarter of all car sales in Europe. Representatives of lithium battery-makers also looked on as Serbia and the EU signed an agreement to establish a “strategic partnership on sustainable raw materials, battery production chains and electric vehicles”.

How much lithium can Serbia produce a year?

Rio Tinto has said Serbia's lithium reserves in Loznica could produce an estimated 58,000 tonnes annually, enough for 1.1 million electric vehicles. During an interview with Germany's Handelsblatt ahead of the Belgrade summit, Vucic said conversations were ongoing with a range of European automakers including Mercedes, Volkswagen and Stellantis.

Will Germany support Serbia to develop a lithium production value chain?

"Chancellor Scholz has offered Germany's support for Serbia to develop a more extensive lithium production value chain, which will bring us billions in investments," Vucic added.