Lithium is as important for mobility in future as oil has been until now: German chancellor

EU, Serbia sign agreement on sustainable raw materials, battery production chains and electric vehicles

BELGRADE, Serbia

Lithium is as important for mobility in the future as oil has been until now, said German Chancellor Olaf Scholz on Friday.

Addressing the Summit on Critical Raw Materials in Serbian capital Belgrade, Scholz said: "We need lithium and I am convinced that it is important for future mobility."

Serbia and the European Union signed a memorandum of understanding on a strategic partnership on sustainable raw materials, battery production chains and electric vehicles in the presence of Serbian President Aleksandar Vucic and Scholz.

"This project (Jadar lithium extraction project by the Anglo-Australian multinational mining company, Rio Tinto) creates new production chain potentials, jobs, not only when it comes to mining, but also in other processing steps," said Scholz, adding that it is a turning point for the future.

The summit is attended by Scholz and the vice president of the European Commission and in charge of the European Green Deal, Maros Sefcovic, who signed the memorandum with Serbia on behalf of the EU.

"We have already had talks and I can say that I am satisfied. For us as Serbia, it represents a great hope. We are convinced that we will not miss this chance," said Vucic in the presence of Scholz and Sefcovic.

Vucic added that the Jadar mining project will mean Serbia's quantum leap into the future.

Thousands of environmentalists have been holding demonstrations at regular intervals for years against the Jadar lithium extraction project in Serbia by the Anglo-Australian multinational mining company, Rio Tinto.

Environmentalist claim that the project is harmful to the health of residents and the environment.

Rio Tinto discovered lithium mineral reserves in the Serbian city of Loznica in 2004.