Olemedia
Rio Tinto (NYSE:RIO) continues to cope with large protests in Serbia over its proposed Jadar lithium project, which critics say would pollute the local region and endanger public health.
Thousands rallied on Sunday in the latest series of actions linked to the proposed mine, which Serbia’s government has hailed as an economic milestone, but which activists say would destroy the Jadar Valley region that lies above Europe’s largest lithium deposit.
Serbian President Vucic revived the planned mine this year and has received the backing of European Union leaders and major European automobile companies including Mercedes-Benz, Volkswagen and Stellantis.
Rio (RIO) has said the project would produce 58K metric tons of lithium carbonate, 160K tons of boric acid, and 255KM tons of sodium sulphate annually and account for 90% of Europe’s lithium needs.
Although there were no reports of arrests over the weekend, previous protests have led to police raids on organizers’ homes and charges of violently subverting the constitutional order, Financial Times reported.
Rio Tinto (RIO) shares -4.6% on Tuesday as prices sink for copper, iron ore and other metals.
