EU and Serbia aim to mine lithium together

Belgrade: The European Union and Serbia are looking to join forces to develop one of Europe’s largest lithium deposits, worth several billion euros, for the purpose of producing batteries, primarily for electric cars.

In the presence of Federal Chancellor Olaf Scholz, Serbian President Aleksandar Vučić and EU Commission Vice-President Maroš Šefčovič, a memorandum of understanding was signed in Belgrade to enable eco-friendly extraction of the highly sought-after light metal in the Jadar Valley in western Serbia. There is opposition to the project from environmentalists in Serbia, however.

Scholz gave his assurance that the project would meet the “very highest standards” of environmental protection. Mr Sefcovic spoke of a “historic day”, saying he saw the agreement as a step by Serbia towards the EU.