# Rio Tinto says output from $2.4 billion Serbia lithium project to be delayed
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2022-01-18
Category: BUSINESS
Category URL: https://financedigest.com/category/business
Meta Title: Rio Tinto Faces Delays in Serbia Lithium Project
Meta Description: Discover how Rio Tinto's $2.4 billion lithium project in Serbia faces delays and opposition due to environmental issues. Stay informed on the latest
URL: https://financedigest.com/rio-tinto-says-output-from-2-4-billion-serbia-lithium-project-to-be-delayedhtml

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(Reuters) – Rio Tinto on Tuesday pushed back its timeline by a year to 2027 for first saleable production at its $2.4 billion Serbia lithium project, saying it faces delays in key approvals and protests over [environmental](https://www.financedigest.com/sustainable-finance-the-wave-of-the-future.html) concerns.

The lithium-borates project near Loznica in the western Jadar valley is slated to position the Anglo-Australian miner as Europe’s largest lithium supplier for at least next 15 years amid a boom in electric vehicle sales.

The mine has faced opposition from [environmental](https://www.financedigest.com/sustainable-finance-the-wave-of-the-future.html) activists and local communities over concerns of environmental damage, forcing the local municipality last year to scrap a plan to allocate land for the facility.

The Balkan nation will decide whether Rio can proceed with developing the mine after a general election in April, its [prime minister](https://www.financedigest.com/economist-odor-picked-as-slovakias-caretaker-prime-minister.html "Economist Odor picked as Slovakia’s caretaker prime minister") told Reuters earlier this month.

We fully understand the concerns amongst some Serbian stakeholders about [environmental](https://www.financedigest.com/sustainable-finance-the-wave-of-the-future.html) [impacts and we will continue to engage to demonstrate the project](https://www.financedigest.com/equinor-evaluating-impact-of-british-windfall-tax-on-projects.html "Equinor evaluating impact of British windfall tax on projects") has developed mitigation solutions in the project plan,” Rio said in a statement.

The news also comes as relations between Serbia and [Australia have flared up after Australia deported Novak Djokovic](https://www.financedigest.com/outcry-as-australia-bars-djokovic-over-vaccination-status.html "Outcry as Australia bars Djokovic over vaccination status"), the world men’s tennis No. 1, for being unvaccinated against COVID-19, stumping his quest for a record 21st Grand Slam title.

The Serb had himself apparently voiced support for protests against Rio on Instagram [last month](https://www.financedigest.com/fintech-trends-to-look-out-for-during-the-last-six-months-of-2019.html "Fintech trends to look out for during the last six months of 2019"), according to a Twitter.

The new roadmap for Jadar was released alongside Rio’s [production results and 2022 output forecast](https://www.financedigest.com/feminine-hygiene-product-market-2021-global-leading-companies-analysis-revenue-trends-and-forecasts-2024.html "Feminine Hygiene Product Market 2021 Global Leading Companies Analysis, Revenue, Trends and Forecasts 2024").

(Reporting by Shashwat Awasthi; Editing by Subhranshu Sahu)


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