German Chancellor Olaf Scholz is to visit Belgrade this Friday (19 July) to finalize a cooperation agreement between the EU and Serbia on importing critical minerals, including lithium, crucial for the EU's green transition.
According to POLITICO, a government spokesperson confirmed the visit which could mark a significant diplomatic shift for Serbian President Aleksandar Vučić. European Commission Vice President Maroš Šefčovič will also attend the signing ceremony, with the participation of Commission President Ursula von der Leyen still uncertain.
In an interview with German media this Thursday, Vučić said Serbia will prioritize lithium sourcing from European automakers, such as Mercedes-Benz, Volkswagen and Stellantis Group, over Chinese automakers.
This deal follows a Serbian court ruling that could potentially restart the Jadar lithium mining project owned by Rio Tinto. The project could produce 58,000 tonnes of lithium carbonate annually by 2028, enough to power 1.1 million electric vehicles. Despite the potential economic benefits, the project was halted in 2022 after environmental concerns, and could still face strong local opposition in the future.
Author: Hongqiu Su | Battery Metals Analyst Associate | London Office, Shanghai Metals Market
Email: lilysu@smm.cn
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