German Chancellor's Strategic Visit to Serbia: Focus on Sustainable Raw Materials

German Chancellor Olaf Scholz is heading to Serbia to engage in crucial discussions about raw materials with President Aleksandar Vucic. This high-level visit underscores the importance of sustainable resources and strategic partnerships between Serbia and the European Union.

Chancellor Scholz, alongside European Commission Vice President Maros Sefcovic, will attend a pivotal summit focusing on critical raw materials. During the event, Serbia is expected to formalize a memorandum of understanding with the EU, particularly centered around sustainable raw materials, battery supply chains, and electric cars. The summit aims to further European raw materials agenda and mitigate risks associated with resource procurement.

The trip gains extra significance following Serbia's decision to reinstate a license for Rio Tinto to develop the continent's largest lithium mine. Known as the Jadar project, this $2.4 billion initiative could meet 90% of Europe's current lithium demands, potentially transforming the continent's electric vehicle industry. However, the project faces substantial opposition from environmental activists and local opposition parties.

(With inputs from agencies.)