Serbia restores Rio Tinto's license to develop Europe's largest lithium mine, prioritizing European carmakers for lithium purchases to boost EV production.
Serbia aims to prioritize European carmakers, including Mercedes-Benz, Volkswagen, and Stellantis, for lithium purchases as the nation focuses on strengthening ties with the European Union. Serbia has reinstated Rio Tinto's license to develop Europe's largest lithium mine, potentially boosting the continent's electric vehicle industry. Annual lithium output in Serbia is expected to reach 58,000 tonnes, sufficient for approximately 1.1 million electric vehicles or 17% of the European market. Procurement deals will be contingent on most of the lithium processing and battery production occurring in Serbia.
July 18, 2024
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