Rio Tinto progresses the Jadar lithium project to feasibility study stage
July 30 2020 - 8:58AM
Business Wire
Rio Tinto has approved an additional investment of almost $200
million to progress the next stage of the development of the
lithium-borate Jadar project in Serbia. This will primarily fund
the feasibility study, including the completion of detailed
engineering designs, as well as permitting and land acquisition by
the end of 2021, in line with the initial project schedule.
Rio Tinto Energy & Minerals Chief Executive Bold Baatar said
“Rio Tinto’s lithium project pipeline is an important part of our
vision to pursue opportunities which are part of the transition to
a low-carbon future. We look forward to working closely with the
Government of Serbia over the next eighteen months as we develop
and validate our understanding of the project to the point when we
can seek a final investment decision by the Board of Rio
Tinto.”
The Jadar deposit contains high-grade mineralisation of boron
and lithium supporting a long-life operation in the first quartile
of operating costs for both products. The unique mineral, Jadarite
was discovered by Rio Tinto geologists in 2004 near the city of
Loznica in Western Serbia.
The company completed the detailed exploration of the Jadarite
deposit in February 2020. The results of the drilling programme are
now being incorporated into an update of the geological model. This
update will facilitate a JORC Reserve declaration as part of the
feasibility study and also a submission of Elaborate on Reserves,
in accordance with the Serbian mineral code.
The development includes an underground mine, an industrial
processing facility and all associated infrastructure. The project
has the potential to supply the world with a significant amount of
end-industrial products for lithium batteries for electric vehicles
and energy storage facilities. It would also supply borates which
are used in the manufacturing of detergents, cosmetics and other
consumer goods.
In parallel, Rio Tinto has also started work on the
commissioning of its lithium demonstration plant in the United
States, which is extracting lithium from waste rock at its Boron
mine in California. This plant could potentially produce 10 tonnes
per year of lithium-carbonate needed in rechargeable batteries for
electric vehicles and consumer electronics.
Contacts media.enquiries@riotinto.com riotinto.com
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