Australian company waiting to enter lithium race in western Serbia

Volt Resources has acquired exploration license applications for three areas in western Serbia, expecting to find a lithium and borate mineral. The Jadar North location is next to Rio Tinto’s planned mine within its Jadar project, for the exploitation and processing of lithium-rich jadarite.

Volt Resources is still waiting for a geological exploration license for the Jadar North field, said Ana Pavlović from the Eko Cer environmentalist group. The mining company based in Perth, Australia, is betting on lithium and boron mineral deposits in western Serbia.

Ana Pavlović, who is a tourist guide on the Cer mountain, published a statement from the Ministry of Mining and Energy on social network X.

Rio Tinto’s neighbor

Jadar North, of 99 square kilometers, is next to Rio Tinto’s Jadar project for a lithium mine and processing unit near the city of Loznica. Last week the Constitutional Court of Serbia overturned a decree from January 2022 that abolished the local spatial plan. At the time, amid massive protests, the government halted the project.

The Constitutional Court of Serbia has just unblocked Rio Tinto’s Jadar project, which the government formally halted in January 2022

Environmentalists and locals in several areas in Serbia are opposing lithium mining. They argue that it would affect their quality of life, cause devastating pollution and jeopardize ecosystems, especially in protected areas.

On the other side of the fence are investors, wanting access to the jadarite mineral, which geologists consider unique. It is expected to be highly competitive in the production of lithium carbonate, an essential raw material for batteries. The top authorities in Serbia again openly support Rio Tinto’s proposed investment.

Petlovača area is prime farmland

Volt Resources, listed on the Australian Stock Exchange (ASX), produces natural graphite and anodes from the material. The other two lithium and borate exploration license applications in Serbia are for the areas of Petlovača and Ljig.

Pavlović stressed that Petlovača, just north of Jadar North, covers fertile land in the Mačva district. It spans just under 100 square kilometers. The Ljig field, named after a nearby town, has a surface of 92 square kilometers.

Volt agreed in 2021 to buy project firm Asena Investment, which holds the rights to the license applications. According to the Australian company’s statements as recent of March this year, it intended to complete the acquisition upon receiving exploration approval.

However, data from the Serbian Business Registers Agency (APR) show it became the 100% owner of Belgrade-based Asena Investment already in January 2022. Volt Resources said “limited drilling” was so far conducted at Jadar North.