Environmental protests in Serbia are putting at risk the development of Europe’s largest lithium deposit, which could supply up to 17% of the EU’s annual demand for the mineral, crucial for the electric vehicle industry.
Jakob Stausholm, CEO of mining giant Rio Tinto, told Handelsblatt that the protests, which have drawn tens of thousands of people, could delay the project’s timeline and impact its profitability. “Every time we suffer a setback, the start of lithium mining is pushed further back,” Stausholm said.
The Jadar valley in Serbia holds a lithium deposit with a concentration of 1.8% in the ore, making it one of the few European sources competitive with mining projects in Australia and Canada. The deposit is estimated to be large enough to produce enough lithium for 1.1 million electric cars per year, vital for meeting EU climate goals.
Protests have intensified due to concerns over environmental risks, including the potential contamination of water with heavy metals, which Stausholm dismisses as misinformation spread on social media. “We are not prepared to handle this false information effectively,” Stausholm added.
The Handelsblatt article highlights that lithium from Serbia could help the EU reduce its dependence on China, which currently controls 60% of global lithium processing and 44% of global investments in lithium projects. Demand for lithium is expected to increase ninefold by 2040, driven by the global transition to electric vehicles.
However, the situation in Serbia underscores the challenges Europe faces in securing raw materials for green energy while balancing environmental concerns. Protests against lithium mining are not only occurring in Serbia but also in other European regions, including Portugal and Sweden.
Stausholm emphasized that mining companies must prioritize local communities and address their concerns, ensuring that local populations benefit from resource extraction. In Germany, government sources suggest that European and German standards are integral to alleviating environmental activists’ concerns, and the project will only proceed if it meets high environmental protection standards.
