Rio Tinto partners with InoBat to explore innovative lithium battery initiative
May 25 2021 - 4:15AM
Business Wire
Rio Tinto and InoBat, a European battery technology and
manufacturing company, have signed a Memorandum of Understanding to
work together to accelerate the establishment of a “cradle to
cradle” battery manufacturing and recycling value chain in Serbia.
The partnership will cover the full commodity life-cycle from
mining through to recycling of lithium.
Rio Tinto’s Jadar project in Serbia, one of the largest
greenfield lithium projects in development, has the potential to
produce approximately 55 thousand tonnes of battery grade lithium
carbonate in Europe, one of the world’s largest growing electric
vehicles markets. InoBat, a European based battery manufacturer
with a battery research and development facility and pilot plant
being developed in Slovakia intends to scale up its future
production, through gigafactories to be built in the EMEA region.
InoBat’s goal is to serve the Europen market with innovative energy
solutions, including production and recycling of electric vehicle
batteries.
Managing director of Rio Tinto’s borates and lithium businesses,
Marnie Finlayson said ”This collaboration with InoBat will enable
an important exchange of knowledge and information on lithium
processing, recycling and technologies for the next generation of
batteries. It is a visionary initiative and one that is aligned
with Rio Tinto’s commitment to partnerships that provide solutions
to combat climate change.”
It is envisaged the collaboration between Jadar and InoBat will
also encourage the development of a complete European lithium and
electric vehicle battery value chain that will harness and enhance
local skills, environmental, social and governance standards and
cross-border interactions for the benefit of Serbia and other
European economies that wish to collaborate.
Marian Bocek, Chief executive officer of InoBat Auto said “The
signing of Memorandum of Understanding with Rio Tinto represents an
important step in achieving InoBat’s goal to utilise a
European-based value chain and support European bid for
technological independence. Our unique “cradle to cradle” approach
covers the whole life-cycle of batteries from mining to recycling,
in order to underpin circular economy efforts and the Agenda 2030
Sustainable Development Goals.”
In 2020, Rio Tinto approved an investment of almost US$200
million to complete the final phase of study at the Jadar project,
which is expected to be finalised in 2021, with an investment
decision to follow. The scale and high grade nature of the Jadar
deposit provides the potential for a mine to supply lithium
products into the electric vehicle value chain for decades. If
approved, construction of a mine to the highest environmental
standards would take up to four years and would be a significant
investment for Serbia with direct and indirect economic benefits to
the Serbian economy.
riotinto.com
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Category: Jadar
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