June 19 (SeeNews) - British-Australian mining group Rio Tinto plans to complete its studies on the capacity of the Jadar lithium borate project in Serbia by the beginning of next year, a Serbian government official has said.
Rio Tinto may launch production of lithium in Jadar within three to four years, Serbian news agency Tanjug quoted state secretary at the energy ministry Stevica Dedjanski as saying on Tuesday.
"We expect that the ore will be processed in Serbia and that there will be new products with added value," Dedjanski said.
Rio Tinto discovered the lithium borate deposit in the valley of Jadar river in 2004 and plans to start production in 2023. Jadar is estimated to contain 10% of the world's deposits of lithium, the primary raw material for production of batteries for electric vehicles. The Jadar lithium borate discovery in Serbia is estimated at 135.7 million tonnes with a weighted average concentration of 1.86% of lithium oxide, representing one of the largest lithium deposits in the world.
In April, Marnie Finlayson, the country head for Serbia of Rio Tinto, said the company is drafting the project documentation for the construction of the Jadar lithium borate mine. Under current plans, Jadar will be an underground mine, with the opportunity for future expansion if demand warrants it, The Australian daily reported in March.