The Jadar project would be able to produce 58ktpa of refined battery-grade lithium carbonate at full capacity— enough to power 1m EVs. Its reserves of 158Mt are equivalent to 17% of Europe’s total lithium reserves. Europe is scrambling to secure access to critical raw materials as part of plans to build out a regional EV and battery ecosystem and reduce reliance on Chinese supplies. China accounted for 70% of global lithium-ion battery production last year. Serbia called off the lithium project in 2022 amid large-scale environmental protests but gave the green light in July after receiving guarantees from the Anglo-American miner and the EU that address the country’s concerns over environmental standards at the mine. A week after Serbia’s top court ruled that revoking the permits was unconstitutional, Serbia signed deals with the EU to grant European car makers exclusive access to its lithium. German Chancellor Olaf Scholz said the Rio Tinto mine would help to defend Europe's economic security, claiming that the Jadar could provide as much as 90% of the continent's current lithium needs.