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Rio Tinto Puts on Hold Its $2.95 Billion Jadar Lithium Project in Serbia
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Release time：2025-11-14
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The Jadar project has yet to begin production and has faced multiple setbacks in recent years, including approval delays and opposition from local communities.
Rio Tinto has halted further development of its $2.95 billion ($2.24 billion GBP) Jadar project in Serbia, as part of a broader initiative to streamline operations and prioritize near-term opportunities. According to Bloomberg, an internal memo distributed to employees earlier this week outlined the move to place the project into "maintenance mode," a decision that was subsequently confirmed. A Rio Tinto spokesperson confirmed the contents of the internal memo but declined to provide further comment. The Jadar project has yet to enter production and has faced numerous setbacks in recent years, including prolonged approval delays and strong opposition from local communities. Although the site boasts high-grade lithium resources, progress has been hampered by inconsistent government support and widespread public resistance within the community. Amid growing public discontent, the mine has become a focal point of controversy, further complicating efforts to move forward.
Bloomberg cited a report from Rio Tinto. In internal communications, the company stated: "Given the lack of progress in licensing approvals, we are unable to maintain the same level of spending and resource allocation." The decision to pause the Jadar project aligns with CEO Simon Trott's initiative to streamline Rio Tinto's structure and focus capital on growth opportunities. Under Trott's leadership, the company has reorganized into three core divisions: iron ore, the aluminum-lithium portfolio, and copper. This move is part of the company's broader effort to optimize its product mix and enhance operational efficiency. Notably, Rio Tinto remains the only major diversified mining company making significant investments in lithium, a trend that has drawn close attention from investors and analysts eager to understand the company's strategy in this critical battery metal sector.
Last year, Rio Tinto acquired Arcadium Lithium, marking the company’s first major acquisition in 17 years. This purchase added three lithium mining projects currently under development to Rio Tinto’s portfolio, complementing its ongoing investment in the Rincón lithium mine in Argentina. However, the lithium market has experienced a significant downturn, with prices dropping by about 85% from their 2022 peak. This year, Rio Tinto plans to increase its capital expenditures to the highest level in more than a decade.
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