{"id":192994,"date":"2025-11-16T12:23:50","date_gmt":"2025-11-16T10:23:50","guid":{"rendered":"https:\/\/serbiantimes.info\/en\/?p=192994"},"modified":"2025-11-16T12:23:51","modified_gmt":"2025-11-16T10:23:51","slug":"the-news-serbia-has-been-waiting-for-the-most-reputable-australian-outlet-reports-that-rio-tinto-is-halting-the-jadar-project-and-the-reason-is-known","status":"publish","type":"post","link":"https:\/\/serbiantimes.info\/en\/the-news-serbia-has-been-waiting-for-the-most-reputable-australian-outlet-reports-that-rio-tinto-is-halting-the-jadar-project-and-the-reason-is-known\/","title":{"rendered":"THE NEWS SERBIA HAS BEEN WAITING FOR: The most reputable Australian outlet reports that Rio Tinto is halting the Jadar project, and the reason is known!"},"content":{"rendered":"\n<p>Rio Tinto will stop working on the development of the lithium mine in Serbia, two decades after it first discovered the deposit at that site, writes the Australian <em>Financial Review<\/em>, noting that the \u201cJadar\u201d project is expected to become a victim of cost-cutting measures implemented by the mining giant\u2019s new CEO, Simon Trott.<\/p>\n\n\n\n<p>The lithium and borate deposit in the Jadar Valley was discovered by Rio Tinto in 2004, and in 2021 the company announced plans to spend 2.4 billion dollars (3.7 billion) on building the largest lithium mine in Europe. Many within the company considered this proposal one of the favorite projects of former CEO Jakob Stausholm, <em>Financial Review<\/em> recalls.<\/p>\n\n\n\n<p>However, community opposition to the mine in Serbia was strong. Rio Tinto temporarily lost its license for the project between January 2022 and July 2024, and development was postponed because of it.<\/p>\n\n\n\n<p>Rio Tinto has spent nearly 10.7 billion dollars purchasing the already established and profitable business Arcadium Lithium earlier this year, as well as some earlier lithium deposits in Chile. As competition for capital grows within Rio Tinto\u2019s lithium division, and as Trott looks for ways to reduce costs, Jadar has been placed \u201con hold.\u201d A memorandum sent to staff states that the company is \u201cnot in a position to maintain the same level of spending and resource allocation\u201d for Jadar.<\/p>\n\n\n\n<p>Jadar has been placed under \u201ccare and maintenance\u201d \u2014 a term in the mining industry meaning that the asset is put into a dormant state, but ownership is retained.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-wp-embed is-provider-serbiantimes-info wp-block-embed-serbiantimes-info\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"wp-embedded-content\" data-secret=\"FwdUMKGp1L\"><a href=\"https:\/\/serbiantimes.info\/nije-cistka-vec-sistematizacija-dacic-konacno-progovorio-o-imenovanju-repca-i-zmirica-na-visoke-policijske-funkcije\/\">&#8222;NIJE \u010cISTKA VE\u0106 SISTEMATIZACIJA&#8220;: Da\u010di\u0107 kona\u010dno progovorio o imenovanju Repca i \u017dmiri\u0107a na visoke policijske funkcije!<\/a><\/blockquote><iframe loading=\"lazy\" class=\"wp-embedded-content\" sandbox=\"allow-scripts\" security=\"restricted\" style=\"position: absolute; visibility: hidden;\" title=\"&#132;&#8222;NIJE \u010cISTKA VE\u0106 SISTEMATIZACIJA&#8220;: Da\u010di\u0107 kona\u010dno progovorio o imenovanju Repca i \u017dmiri\u0107a na visoke policijske funkcije!&#147; &#8212; Serbiantimes.info\" src=\"https:\/\/serbiantimes.info\/nije-cistka-vec-sistematizacija-dacic-konacno-progovorio-o-imenovanju-repca-i-zmirica-na-visoke-policijske-funkcije\/embed\/#?secret=zNRNC4H6Un#?secret=FwdUMKGp1L\" data-secret=\"FwdUMKGp1L\" width=\"500\" height=\"282\" frameborder=\"0\" marginwidth=\"0\" marginheight=\"0\" scrolling=\"no\"><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><strong>Many jobs will be cut<\/strong><\/h2>\n\n\n\n<p>The decision means that Rio Tinto\u2019s staff will stop conducting environmental, cultural-historical, and geological research intended for the project\u2019s future development, the Australian paper reports. Rio Tinto, it is recalled, currently has around 100 employees whose work is tied to this project, and many positions will be eliminated. Another 120 external contractors had been working on the \u201cJadar\u201d project.<\/p>\n\n\n\n<p>Trott has also reduced the size of Rio Tinto\u2019s executive board, and is expected to lay off even more senior leadership as he introduces a new structure that shifts power further away from the group\u2019s London headquarters.<\/p>\n\n\n\n<p>Trott indicated last month that Rio Tinto\u2019s lithium ambitions will not be developed without reviewing projects with low returns and unreliable outcomes.<\/p>\n\n\n\n<p>\u201cOne of the important things is that we have options, and that we have a lot of optional flexibility built into the system, so that, if the return is appropriate, we can move forward with those projects and advance the best among them,\u201d he told investors at an event organized by Goldman Sachs in London last month. He expects Jadar to remain on Rio Tinto\u2019s list of future strategic reserves after his first major strategic presentation since taking office on December 4.<\/p>\n\n\n\n<p>Barclays analyst Amos Fletcher said the company\u2019s acquisition grew by 26 percent between December 2021 and 2024, and that it cost Rio Tinto 7.1 billion dollars more than originally announced. He expects Trott to focus on cutting costs, adding that the company could save up to a billion dollars.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\"><mark style=\"background-color:#FFFFFF;color:#d21414\" class=\"has-inline-color\">MORE TOPICS:<\/mark><\/h3>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/we-must-not-allow-new-victims-medical-science-students-called-on-dijana-hrka-to-suspend-her-hunger-strike\/\" target=\"_blank\" rel=\"noopener\" title=\"\">\u201cWE MUST NOT ALLOW NEW VICTIMS\u201d: Medical science students called on Dijana Hrka to suspend her hunger strike!<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/state-department-says-removing-russian-control-over-nis-increases-serbias-energy-security\/\" target=\"_blank\" rel=\"noopener\" title=\"\">STATE DEPARTMENT SAYS: \u201cRemoving Russian control over NIS increases Serbia\u2019s energy security\u201d<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/the-serbian-is-the-world-champion-jovan-cvetanovic-defeated-the-frenchman-in-the-final-and-won-gold-in-jiu-jitsu\/\" target=\"_blank\" rel=\"noopener\" title=\"\">THE SERBIAN IS THE WORLD CHAMPION: Jovan Cvetanovi\u0107 defeated the Frenchman in the final and won gold in jiu-jitsu!<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/professor-joler-resigned-after-20-years-due-to-police-repression-and-violation-of-autonomy-he-left-the-novi-sad-academy-of-arts\/\" target=\"_blank\" rel=\"noopener\" title=\"\">PROFESSOR JOLER RESIGNED AFTER 20 YEARS: Due to police repression and violation of autonomy, he left the Novi Sad Academy of Arts!<\/a><\/strong><\/p>\n\n\n\n<p><strong><a href=\"https:\/\/serbiantimes.info\/en\/today-is-the-holy-unmercenary-healers-day-on-this-day-it-is-good-to-do-heavy-work-be-sure-to-read-this-prayer-for-healing\/\" target=\"_blank\" rel=\"noopener\" title=\"\">TODAY IS THE HOLY UNMERCENARY HEALERS DAY: On this day, it is good to do heavy work, be sure to read this prayer for healing!<\/a><\/strong><\/p>\n\n\n\n<p><strong>Source:<\/strong> N1, <strong>Foto:<\/strong> Antonio Ahel\/ATAImages<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rio Tinto will stop working on the development of the lithium mine in Serbia, two decades after it first discovered the deposit at that site, writes the Australian Financial Review, noting that the \u201cJadar\u201d project is expected to become a victim of cost-cutting measures implemented by the mining giant\u2019s new CEO, Simon Trott. The lithium [&hellip;]<\/p>\n","protected":false},"author":2169,"featured_media":192995,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"footnotes":""},"categories":[7],"tags":[9552,989,882,1888,884],"class_list":["post-192994","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-serbia","tag-dolina-jadra","tag-jadar","tag-litijum","tag-mediji","tag-rio-tinto","entry"],"aioseo_notices":[],"distributor_meta":false,"distributor_terms":false,"distributor_media":false,"distributor_original_site_name":"Serbiantimes.info EN","distributor_original_site_url":"https:\/\/serbiantimes.info\/en","push-errors":false,"_links":{"self":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/192994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/users\/2169"}],"replies":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/comments?post=192994"}],"version-history":[{"count":2,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/192994\/revisions"}],"predecessor-version":[{"id":193015,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/posts\/192994\/revisions\/193015"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/media\/192995"}],"wp:attachment":[{"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/media?parent=192994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/categories?post=192994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/serbiantimes.info\/en\/wp-json\/wp\/v2\/tags?post=192994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}