Miner Rio Tinto Mothballs $3 Billion Serbian Lithium Project

Rio Tinto Group has decided to mothball its $2.95 billion Jadar lithium project in Serbia. This decision is part of a broader strategy by the company's new chief executive officer to streamline operations and reduce costs. The move reflects the company's ongoing efforts to adapt to changing market conditions and prioritize financial efficiency. The Jadar project was significant for lithium production, a key component in electric vehicle batteries, making this decision impactful for both the mining sector and the growing demand for sustainable energy solutions.