Finance Minister Siniša Mali emphasized the significant economic potential of the “Jadar” project in a recent interview with NIN, highlighting that the project should not be overshadowed by political disputes.
“The profitability of the ‘Jadar’ project is undeniable, and Serbia stands to benefit from its rich mineral resources. However, we must first address the politicization surrounding this issue. It has become a battleground for political maneuvering, rather than a straightforward discussion about economic benefits,” Mali stated.
He stressed that his primary focus is the well-being of Serbia and its citizens, asserting that new growth sources are essential for improving living standards. From a purely economic perspective, Mali revealed that the investment for the project would exceed 2.5 billion euros, making it one of the largest industrial greenfield investments in Serbian history.
During the project’s construction phase, an estimated 3,500 jobs will be created, with 1,300 permanent positions in mining and processing over the following decades. Mali noted the potential to attract additional investments in sectors like cathode and battery manufacturing for electric vehicles, which could generate over 20,000 highly skilled jobs and contribute an estimated 11-12 billion euros to the GDP—over 16% of the national total.
He assured that the government prioritizes public health and environmental protection, committing to strict safety protocols throughout the project’s execution.
The minister outlined plans for a comprehensive value chain, aiming to produce lithium components locally instead of relying on international sources. The “Jadar” project could exploit 58,000 tons of lithium annually, generating over 180 million euros in annual tax revenue and mining rents for the state. The municipality of Loznica alone could see a 25 million euro increase in revenue, effectively doubling its budget.
Mali projected that lithium production in Serbia could satisfy 10% of global demand, with potential to meet half of Europe’s needs by 2027, equating to battery production for one million vehicles annually.
For further insights on the “Jadar” project, NIN gathered perspectives from Minister Dubravka Đedović, Dean of the Faculty of Mining and Geology Aleksandar Cvjetić, economists Milan Kovačević and Ljubodrag Savić, and businessman Zoran Drakulić.
