Modernising Agreements and Transition to Renewables
Jadar project - 100% owned and managed
Mining and processing
Underground mine using bench stoping
Co-located beneficiation and chemical processing plant
Primary products: lithium carbonate, boric acid
Overall product recoveries: ~80%
Capex
Capital: $2.4bn (nominal)
Construction phase: 2021-2026 (peak 2022-2025)
LOM sustaining capital: $30m per year, average (real)
Production profile1
First saleable production: 2026
Full ramp-up: 2029
Annual target volumes: up to 58,000 tonnes of battery-grade
lithium carbonate2, 160,000 tonnes of boric acid (B2O3 units)
and 255,000 tonnes of sodium sulphate³ per annum
1 Continuing to work closely with stakeholders in Serbia. Subject to award of final permits and approvals.
Serbian tax and royalties
Mining royalty: 5% (levied on gross
sales minus allowable deductions)
Corporate income tax rate: 15%
Withholding tax rate: 5%
40 year mine life
Ore reserve:
16.6Mt @ 1.8% Li₂O and 13.4% B₂O3
Mineral resource:
139.2Mt @ 1.8% Li₂O and 14.7% B2O3
First quartile costs
Dry stacked
tailings solution
Electric haul trucks
70% water recycling
~2,100 direct jobs
during construction
>1,000 ongoing jobs
when operational
2 These production targets were previously reported in a release to the Australian Securities Exchange (ASX) dated 10 December 2020, "Rio Tinto declares maiden Ore Reserve at Jadar"
(for battery-grade lithium carbonate it was 55,000 tonnes). All material assumptions underpinning the production targets continue to apply and have not materially changed.
3 These resources and reserves were previously reported in the Rio Tinto Annual Report 2020. The material assumptions on which they were based have not materially changed.
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