Vucic told the newspaper that "new guarantees" from the global mining giant and the European Union looked set to address Serbia’s concerns over whether necessary environmental standards would be met at the Jadar site in the west of the country. Rio Tinto did not immediately respond to request for comment outside regular business hours. Regarded as a critical material by the EU and the United States, lithium is used in batteries for electric vehicles (EVs) and mobile devices.
Rio Tinto (RIO) is set to acquire Mitsubishi's 11.65% interest in Boyne Smelters, taking its interest in the venture to 73.5%.
Boyne, which owns and operates the Boyne Island aluminium smelter in Gladstone, Australia, is a joint venture between Rio Tinto, YKK Aluminium and others. In late May, Rio signed a deal to buy Sumitomo Chemical's 2.46% interest in the venture. The purchase from Sumitomo Chemical and the completion of the deal with Mitsubishi will see Rio's interest in Boyne increase to 73.5%, the Australian miner said.