The mining company Rio Tinto has postponed its lithium exploitation project in the Jadar River valley in western Serbia, writes the Bloomberg agency, citing internal documents of the Australian company.<\/p>\n\n\n\n
Bloomberg had access to a memorandum sent this week, which states that the Jadar project will be placed under \u201ccare and maintenance\u201d status (mothballed).<\/p>\n\n\n\n
\u201cGiven the lack of progress with the permits, we are not in a position to maintain the same level of cost and resource allocations,\u201d the memorandum states.<\/p>\n\n\n\n
A spokesperson for the conglomerate confirmed the content of the memorandum but refused to comment further.<\/p>\n\n\n\n
The move by the Rio Tinto conglomerate comes at a time when the new general director wants to focus on simplifying the company, which is increasingly expanding, and on reducing expenditures.<\/p>\n\n\n\n
The Bloomberg agency reports that the project in the Jadar River valley has been facing problems for years and that the area on one hand has rich reserves of lithium and borates, but on the other hand, the local community strongly opposes the project, which has also turned into a topic of major political protests.<\/p>\n\n\n\n
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