Mr. Dušan Vasiljević today made several false and inaccurate claims about the use of sulfuric acid, economic benefits and sustainable mining related to the Jadar Project on the N1 television programme.

Mr Vasiljevic claimed sulfuric acid residues from the processing process would be disposed of near the mine. The process of using sulfuric acid on our Project is safe and strictly regulated by the Government of Serbia and adheres to best international practices. The proposed process enables the dissolution of ore without emitting sulfur vapor. All added sulfuric acid components would be converted to benign compounds and end products during processing. Therefore, sulfuric acid would not be found in any waste residue produced by the jadarite ore processing process.

The Jadar Project, regardless of the cyclical nature of commodity prices, will be a core part of the green transition over upcoming decades. It will, along with other critical raw material producers of lithium, generate significant economic benefits. Serbia has the potential to become a strategically important supplier of this key mineral.

The Jadar Project would be the largest greenfield investment in the modern history of Serbia. An economic impact study of the Jadar Project, prepared by Ergo Strategy Group, indicates the Project will, once indirect and induced impacts are accounted for, make an economy-wide contribution estimated at €1.9 billion – equivalent to more than 3% of Serbia’s current GDP. It is predicted during operations, the project would be one of Serbia’s largest taxpayers, contributing EUR180m annually. The Jadar Project can also create highly qualified and highly paid jobs in the Loznica region, and throughout Serbia, through direct employment and support to local businesses. Jadar will create 1,300 permanent jobs, and construction will create up to 3,500 temporary contract employment opportunities. Once multiplier effects are accounted for a further 3,265 jobs throughout Serbia will be created.

As a further commitment to transparency, we are also prepared to publicly release the “as is” draft Environmental Impact Assessments to support a public dialogue about the future of the Jadar Project even though the cancellation of the project permits in January 2022 stopped the formal regulatory review process. The Jadar Project would be developed sustainably, supported by community-based monitoring programs to ensure transparency around the environmental impacts.

We plan for closure throughout the life cycle of an asset beginning in the project development stage. Throughout this planning process, we aim to invite, engage and collaborate with interested stakeholders to allow for the development and operation of an asset in a way that manages the impact of our activities in order to optimise outcomes for host communities and key stakeholders.