Rio Tinto will cease work to develop a lithium mine in Serbia, with the Jadar project set to fall victim to an austerity campaign that has already cut hundreds of jobs from Rio’s Australian iron ore division.
The lithium and borates deposit in the Jadar Valley was discovered by Rio in 2004 and in 2021 the company vowed to spend $US2.4 billion building Europe’s biggest lithium mine if all permits were forthcoming from the Serbian government.
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