BELGRADE (Serbia), March 27 (SeeNews) – Australian company Jadar Lithium, holding five Serbian lithium exploration licenses, has implemented cost saving and asset preservation initiatives across its business due to the coronavirus crisis, it said on Friday.
"The company continues operations and puts itself in best position, for when the current economic environment improves," Jadar Lithium said in a filing with the Australian Securities Exchange (ASX).
The company said it has started work-from-home protocols, where possible, all contractors are returning to their home countries and all business travel has been cancelled. It also expressed confidence that it will continue operations, whilst cutting expenditure, to be in the best possible position once the current uncertain global economic environment improves.
Jadar Lithium, formerly South East Asia Resources, holds five Serbian lithium exploration licenses - Cer, Bukulja, Rekovac, Krajkovac, and Vranje-South - covering a total area of some 328 square kilometres.
In July, Jadar Lithium said it detected elevated lithium and boron values during its detailed rock sampling programme at the Vranje-South project.