MINEX Forum

Tag: Rio Tinto

  • Serbia’s Environmental Ministry Sets Terms for Rio Tinto’s Jadar Mining Project Amid Criticism

    Serbia’s Environmental Ministry Sets Terms for Rio Tinto’s Jadar Mining Project Amid Criticism

    The Ministry of Environmental Protection of Serbia has defined the scope and content of the required environmental impact assessment (EIA) for the mining section of the controversial Jadar project, spearheaded by Rio Tinto. The multinational mining company is now obligated to address cumulative environmental impacts and propose mitigation measures as part of its EIA study.

    The decision has sparked backlash from environmentalist groups, including Marš sa Drine, which claim it violates public participation rules, neglects key safeguards, and prioritizes corporate interests. The group alleges that the Ministry’s approval bypassed crucial regulations, calling for a public lawsuit to challenge the legality of the move.

    Rio Tinto’s Serbian subsidiary, Rio Sava Exploration, submitted its request on September 17 to outline the EIA scope for an underground lithium and boron mining operation in western Serbia. The project encompasses several municipalities in Loznica and is part of a broader initiative to exploit the Jadarite mineral, a rare source of lithium and boron.

    Environmental watchdog RERI has criticized the fragmented approach, accusing Rio Tinto of “salami slicing” the project to sidestep a comprehensive assessment. RERI argues that dividing the project undermines transparency and diminishes adherence to European Union environmental standards.

    Following an analysis of 149 public comments, the Ministry has required Rio Tinto to explicitly list mitigation measures and adopt best available technologies in the EIA. The company has one year to submit the finalized study, which must detail all cumulative impacts, proposed solutions, and monitoring mechanisms.

    Critics remain unconvinced, warning that the decision favors Rio Tinto at the expense of public and environmental well-being. Marš sa Drine has urged citizens to mobilize against what it calls a breach of Serbian and international laws.

  • Activist Investor Urges Rio Tinto to Scrap London Listing and Focus on Australia

    Activist Investor Urges Rio Tinto to Scrap London Listing and Focus on Australia

    Rio Tinto is under pressure from Palliser Capital, an activist investor, to abandon its primary London listing and adopt a sole focus on Australia, according to reports. The UK-based hedge fund, holding an estimated $250 million (£197 million) stake in the mining giant, criticized the firm’s dual listing structure across the London and Sydney markets as “outdated.”

    Palliser’s proposal mirrors the move by BHP, which shifted its primary listing to Sydney in 2022, citing strategic advantages. Australian investment firm Blackwattle Investment Partners has expressed support for Palliser’s call, suggesting alignment around a central listing in Sydney. However, under the proposal, Rio Tinto shares would remain traded in London under a secondary listing.

    This push comes as London’s financial markets face growing challenges, with several high-profile firms, including Tuiand Flutter, recently relocating their main listings overseas.

    Meanwhile, at its investment day in London, Rio Tinto outlined an ambitious plan for “a decade of profitable growth,” including projections for significant increases in copper production. The company aims to produce 780,000-850,000 tonnes of copper by 2025, up from this year’s estimated range of 660,000-720,000 tonnes, driven by strong performance at its Oyu Tolgoi mine in Mongolia. By 2030, the company targets annual production of 1 million tonnes of copper, a critical material for the global energy transition.

    Jakob Stausholm, Rio Tinto’s CEO, emphasized the company’s long-term strategy: “We are committed to becoming a global leader in energy transition materials. Our improved performance enables us to pursue growth, meet our decarbonization targets, and maintain our dividend policy while preserving a strong balance sheet.”

  • Rio Tinto Partners with GravitHy to Advance Steel Decarbonisation in Europe

    Rio Tinto Partners with GravitHy to Advance Steel Decarbonisation in Europe

    Rio Tinto has entered into definitive agreements with GravitHy to expedite the decarbonisation of steelmaking in Europe. Under the collaboration, Rio Tinto will supply high-grade direct reduction iron ore pellets from its operations at the Iron Ore Company of Canada to support GravitHy’s ambitious steel production project in France.

    GravitHy plans to establish a cutting-edge facility in Fos-sur-Mer, which is expected to produce two million tonnes of iron annually starting in 2028. The facility will leverage ultra-low carbon hydrogen production powered by nuclear energy to convert the direct reduction pellets into hot briquetted iron (HBI).

    GravitHy CEO José Noldin highlighted the project’s significance, stating, “We are developing one of the most advanced ultra-low-carbon iron projects worldwide, designated by the French Government as an ‘Industrial Project of Major National Interest.’” He also emphasized that combining GravitHy’s innovative approach with Rio Tinto’s leadership in mining and steel decarbonisation ensures a strong foundation for the project’s success.

  • Protest in Berlin Against Lithium Mining in Serbia Highlights German Industry’s Double Standards

    Protest in Berlin Against Lithium Mining in Serbia Highlights German Industry’s Double Standards

    A protest against lithium mining in Serbia took place in Berlin, drawing attention to the perceived double standards of the German industry. The demonstration, held in front of the Futurium building near Berlin’s main train station, was organized by people from the former Yugoslavia and environmental activists from across the globe. Protesters aimed to highlight the contrast between Germany’s advocacy for ecologically sustainable production at home and its support for lithium extraction in Serbia, which they argue harms the environment.

    Around several dozen demonstrators attended the event, including members of the Serbian community in Berlin and left-wing activists. They voiced dissatisfaction with the policies of German Chancellor Olaf Scholz, particularly his support for Rio Tinto and their controversial mining projects in Serbia.

    One of the protest organizers, Krunoslav Stojakovic, stated that the protest was strategically held in front of the Futurium, where the German Association of Industrialists was hosting a congress on the environmental development of industry. He criticized the German industry for promoting sustainable practices at home while supporting environmentally damaging lithium exploitation abroad.

    The protest attracted citizens from Serbia and other former Yugoslav republics living in Berlin, who are concerned about the potential environmental and water supply issues that lithium mining could cause in Serbia. They also pointed to the negative impacts of similar mining projects in other countries.

  • Rio Tinto Accused of Downplaying Environmental Impact of Serbia’s Jadar Lithium Project

    Rio Tinto Accused of Downplaying Environmental Impact of Serbia’s Jadar Lithium Project

    Rio Tinto is under fire for allegedly misrepresenting the environmental impacts of its Jadar project in Serbia, according to the Renewables and Environmental Regulatory Institute (RERI). The company’s environmental impact assessment request reportedly only covers the mining portion of the project, ignoring other critical elements like ore processing and waste disposal. RERI argues that this selective submission artificially reduces the perceived environmental risks of the entire project, which includes a lithium and boron ore processing plant and large-scale waste management.

    RERI claims that both Rio Tinto and Serbia’s Ministry of Environmental Protection are contradicting their own commitments to maintain high European environmental standards. By splitting the project into parts, a practice known as “salami slicing,” Rio Tinto may be attempting to secure faster permits while avoiding comprehensive environmental scrutiny.

    The current request leaves out significant details, such as the environmental impact of ore processing, waste generation, and water usage from the Drina River. RERI also highlighted the lack of information on how harmful by-products like lithium carbonate sludge would be managed. Mirko Popović, Programme Director at RERI, emphasized that by breaking up the project, Rio Tinto could reduce costs and bypass stricter environmental protection measures.

    The Environmental Protection Institute of Serbia had previously mandated that all phases of the Jadar project must be assessed together, yet this requirement appears to have been overlooked. This fragmented approach could allow Rio Tinto to proceed with mining activities without fully addressing the environmental impacts of the entire operation.

    The issue has sparked widespread concern about the protection of both human rights and the environment in Serbia, particularly given the reported irregularities in the assessment process. Opposition to the project has intensified, with 86 members of the Serbian National Assembly submitting a bill to ban lithium and boron mining, currently under debate.

  • Serbian Parliament Debates Ban on Lithium Mining Amid Rio Tinto Controversy

    Serbian Parliament Debates Ban on Lithium Mining Amid Rio Tinto Controversy

    On Monday, Serbia’s parliament began discussing an opposition-led proposal to ban lithium and borate mining, a move that would halt Rio Tinto’s contentious $2.4 billion Jadar lithium project in the western region of the country. The debate comes after Serbia reinstated Rio Tinto’s mining licence in July, two years after it was previously revoked following strong opposition from environmental groups.

    The reinstatement of the licence sparked nationwide protests, with demonstrators blocking roads and railways in protest of the potential environmental impact. If completed, the Jadar project could satisfy 90% of Europe’s lithium demand, solidifying Rio Tinto’s position as a leading global lithium producer. Lithium is an essential material in the production of batteries for electric vehicles and mobile devices.

    While the Serbian government argues that the mine will greatly benefit the country’s economy, environmental groups are concerned about the potential damage to land and water caused by industrial waste. The project, which may not begin until 2028, will undergo strict environmental reviews and public consultations, according to Rio Tinto.

    Serbia’s Minister for Mining and Energy, Dubravka Djedovic Handanovic, emphasized that the government would ensure Rio Tinto adheres to stringent international environmental standards. She warned that banning lithium mining could result in lost investments, jobs, and hinder Serbia’s plans to become a hub for electric vehicle and battery production.

    Opposing the project, Danijela Nestorovic, a member of the Ecological Uprising movement, called the proposed mining activities a grave environmental risk, asserting that Serbia’s future would not be endangered without lithium extraction.

    Despite the heated debate, the ruling coalition has a comfortable majority in parliament and has already signaled it will not support the opposition’s proposal. A vote is expected in the coming days, with environmental groups threatening further protests if the ban is blocked.

  • Green Lithium Partners with Rio Tinto to Develop a Low-Carbon Lithium Supply Chain

    Green Lithium Partners with Rio Tinto to Develop a Low-Carbon Lithium Supply Chain

    In a significant move towards advancing the European battery metals industry, Green Lithium, a UK-based developer of low-carbon lithium refineries, has signed a memorandum of understanding with global metals giant Rio Tinto. The collaboration aims to establish a commercial partnership to build a secure and sustainable lithium supply chain, ensuring the stability of the UK’s and EU’s automotive and battery manufacturing sectors.

    The partnership is set to play a crucial role in the rapidly evolving European battery metals value chain. Both companies share a common vision of creating an end-to-end supply chain that will not only bolster production but also support decarbonization efforts across the continent. The agreement underscores the importance of safeguarding supply to meet the growing demand for electric vehicles (EVs) and sustainable energy storage solutions.

    Sean Sargent, CEO of Green Lithium, emphasized the environmental impact of the partnership, stating, “The EV and battery revolutions are essential in reducing carbon emissions. By building our refineries, we aim to accelerate the shift towards EVs and sustainable energy storage through increased production of low-carbon, battery-grade lithium chemicals. This ambitious vision requires the right partners, and in Rio Tinto, we’ve found an exceptional potential collaborator.”

    The agreement is a key milestone in Rio Tinto’s strategy for unlocking the battery metals supply chain in Europe. Philippe Bourdages, Vice President of Minerals Sales at Rio Tinto, noted the shared ambitions with Green Lithium, adding that the partnership will help meet the European market’s growing demand for green battery technology.

    The UK government has welcomed the news, with Sarah Jones MP, Minister for Industry and Decarbonisation, stating, “This partnership will not only create high-skilled jobs in the North East but also strengthen our critical minerals supply chains as we continue working towards a cleaner, greener future and our net-zero goals.”

  • Rio Tinto CEO Addresses Public Concerns Over Jadar Project

    Rio Tinto CEO Addresses Public Concerns Over Jadar Project

    In an op-ed published today in Politika, Rio Tinto’s CEO, Jakob Stausholm, acknowledged the public’s concerns about the controversial “Jadar” project. Stausholm emphasized that the company respects and understands the worries of Serbian citizens and is ready to address any questions that may arise.

    He pointed out that there is a significant amount of misinformation and misinterpretation circulating about both the Jadar project and Rio Tinto, claiming that this is part of a well-coordinated campaign to spread disinformation. “This is the first time in our long history that the company has faced such a situation,” Stausholm remarked. He added that the project is causing confusion, concern, and division among the public, with employees even receiving threats and online harassment.

    Stausholm reaffirmed his commitment to ensuring that the project will be developed in a safe manner, in line with the highest standards of environmental protection, social responsibility, and corporate governance. He also emphasized that all environmental impact studies will be subject to public review, allowing citizens to provide feedback, questions, and suggestions to improve the studies.

    He further mentioned that Rio Tinto is advocating for more public debates, similar to the one held last Saturday in Ljubovija, which was broadcast by local media.

  • Rio Tinto Calls for New Mines to Meet Demand for Key Energy Metals

    Rio Tinto Calls for New Mines to Meet Demand for Key Energy Metals

    The world needs more mines to meet the growing demand for energy-transition metals such as copper, according to Rio Tinto Group chairman Dominic Barton. Speaking in a Bloomberg TV interview, Barton stated that mergers and acquisitions alone will not solve the impending supply gap. “As an industry, we’re not going to inorganic our way out of this challenge,” Barton said, referring to the industry’s reliance on deals for growth. He highlighted the need for new mining projects in at least five key commodity areas.

    While global mining mergers and acquisitions (M&A) have surged recently—driven by strong cash flows and the increasing demand for green energy metals—Barton emphasized that building new mines is essential. BHP Group has been one of the most active players, notably making a move on Filo after its $49-billion bid for Anglo American was rejected.

    Unlike BHP, Rio Tinto has remained relatively quiet in the M&A space, choosing instead to invest hundreds of millions into exploration, with a primary focus on copper and lithium. However, Barton confirmed that the company is still evaluating acquisition opportunities. “We’re just going to have to build more,” he said, stressing the urgent need to discover and mine more copper in the next 30 years.

  • Rio Tinto CEO Seeks to Reassure Serbian Locals Amid Lithium Mining Controversy

    Rio Tinto CEO Seeks to Reassure Serbian Locals Amid Lithium Mining Controversy

    The CEO of Anglo-Australian miner Rio Tinto, Jakob Stausholm, aimed to ease concerns during his visit to Serbiaon Saturday regarding the company’s controversial lithium mining project. Serbia boasts significant lithium reserves near the western town of Loznica, but the project has faced ongoing political and environmental opposition.

    Stausholm met with local residents in Ljubovija alongside Serbian President Aleksandar Vucic and promised to protect both the environment and the local population. “The biggest challenge for us is to win the trust of you who live here,” Stausholm said, emphasizing the company’s commitment to safety and environmental protection, including the safeguarding of water, soil, and natural habitats.

    President Vucic is on a five-day tour of the region where the mine would be located, engaging in discussions with local communities. He acknowledged the difficulty of the talks but expressed optimism for a productive dialogue.

    In July, Serbia’s top court overturned an earlier government decision that had halted the project following large-scale protests in 2021. This ruling reignited demonstrations across the country, with the largest in early August drawing tens of thousands to the streets of Belgrade, where key roads and train stations were blocked. Despite the ongoing unrest, the Serbian government signed a memorandum of understanding with the EU in July, marking the first step toward developing the country’s lithium resources.