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Foreign Investors Council
47, Gospodar Jevremova Street, IV Floor, 11000 Belgrade, Serbia
Phone: +381 11 3281 958, 3281 965
e-mail: office@fic.org.rs

MENI

Member News

18. February 2020.

RIO TINTO COMPLETES GEOLOGICAL EXPLORATION NEAR LOZNICA ON FRIDAY

After 16 years, Rio Tinto completed the geological exploration of jadarite mineral reserves near Loznica on Friday

The global giant has confirmed to RTS that it will continue towork on develop-ing its new mining and processing complex, currently the only one in the world with a jadarite de-posit, containing light metals lithium and boron. Since 2004, Rio Sava Exploration, Rio Tinto’s daughter company, has refined three hundred exploratory wells across a 200-km area. Over the next 18 months, the company will do geotechnical and seismic work and run lab tests concerning the mineral discovered. “Rio Tinto has invested over USD 200 mn in the implementation of the Jadar Project and conducted about 2,000 tests to develop technology to process jadarite,” the com-pany told RTS. The Serbian government expects the investor to submit a study on the jadarite re-serves by the end of July, as well as to request a permit in early 2021 to build a mine in which ex-ploitation could begin in 2024 or early 2025, RTS adds.

Source: Executive Newsletter

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