{"id":85529,"date":"2024-07-22T00:00:00","date_gmt":"2024-07-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/07\/22\/serbia-and-the-eu-ink-critical-minerals-framework-agreement\/"},"modified":"2024-07-22T00:00:00","modified_gmt":"2024-07-22T00:00:00","slug":"serbia-and-the-eu-ink-critical-minerals-framework-agreement","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/07\/22\/serbia-and-the-eu-ink-critical-minerals-framework-agreement\/","title":{"rendered":"Serbia and the EU ink critical minerals framework agreement"},"content":{"rendered":"

EU inks agreement with Serbia for lithium mining and EV production: <\/strong>Serbia and the European Union signed a framework agreement to secure critical raw materials, focusing on a planned lithium mine to boost EV production, Bloomberg<\/a> reported on Friday. The agreement aims to create a comprehensive lithium industry in Serbia in efforts to reduce dependence on Asian imports. Despite previous environmental protests<\/a>, Serbian Finance Minister Sinisa Mali emphasized the project's economic benefits including EUR 6 bn in investments.<\/p>\n

Serbia just overturned the ban on Rio Tinto\u2019s lithium project:<\/strong> The agreement follows the <\/span>reactivation<\/a> by Serbia\u2019s top court of the UK-based <\/span>Rio Tinto\u2019s<\/a> USD 2.4 bn project last week to develop Europe\u2019s largest lithium mine. The project was initially brought to a halt in 2022 by a governmental decree after \u201cthe public grew concerned that mining and processing the metal vital for battery production would heavily pollute the western part of Serbia where the mine was planned,\u201d the news outlet said.<\/span><\/p>\n

Mercedes and Stellantis also want in: <\/strong>Automakers Mercedes Benz Stellantis signed a letter of intent in Belgrade to invest in developing EV battery outputs, Bloomberg added. <\/p>\n

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Fortescue cuts jobs and green hydrogen targets: <\/strong>Australian iron ore giant Fortescue<\/a> is slowing down its 15 mn tons of green hydrogen per year by 2030 production target and cutting 700 jobs, The Financial Times<\/a> reported last week. The firm will still aim to produce 15 mn tons but not within the initial 2030 deadline as Australian power prices remain high while demand is yet to pick up, a company spokesperson told Reuters<\/a>. Fortescue has earmarked USD 6.2 bn for decarbonization efforts by 2030, but must pick up spending with their average yearly expenditure only at USD 300 mn. <\/p>\n

Fortescue is active in the region: <\/strong>The Australian green energy firm recently signed an agreement<\/a> with Moroccan fertilizer giant OCP Group to form a JV to develop green hydrogen and ammonia projects in Morocco. The pair will collaborate to supply fertilizers, hydrogen, and ammonia domestically in the kingdom and export to European and global markets. Fortescue also signed an MoU with Egypt\u2019s sovereign wealth fund in 2022 to begin conducting feasibility studies<\/a> on its planned USD 10 bn 9.2 GW green hydrogen project. Oman\u2019s Sohar International bank also inked an MoU with the firm in 2022 for green energy projects in Oman.<\/p>\n

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