Summit on Serbia’s Critical Raw Materials

 

President Vučić thanked Chancellor Olaf Scholz and EC Vice-President Maroš Šefčovič, as well as the ambassadors of many countries who are in Belgrade today.

 

“We have held discussions, and I can say that I am satisfied. For Serbia, this represents a great hope. We are convinced that we will not miss this chance. We in Serbia have missed many great opportunities and have the habit of too easily letting such chances slip away, but this time we will not let that happen,” said President Vučić at the plenary meeting of the Serbian Critical Raw Materials Summit. He emphasized that people, not only in Serbia but all over the world, seek responsibility, seriousness, and commitment to the future, rather than fleeting, reactionary decisions aimed at instant popularity. 

 

 

The president stated that lithium production will enable the country to make a quantum leap into the future and that Serbia must be a reliable partner for Europe, Germany, and the entire world across the production chain. He singled out three key aspects of implementation, the foremost of which is the full protection of the environment.

 

“There are great experts here who know how such things should be done, and without full precautions, there will be no project,” said President Vučić. He also emphasized Serbia’s economic prosperity as another key consideration.

 

“We also have the first Serbian manufacturer of lithium batteries. On the side of the state, we will help invest in this, but we ask for your support as well. I have discussed this with Maroš Šefčović many times, and I believe that more European companies will show interest,” said the president. He identified public support as the third crucial factor for successful implementation, acknowledging that widespread support might be initially lacking, as has been the case with all major projects. 

 

 

The Chancellor of the Federal Republic of Germany, Olaf Scholz, expressed his pleasure at seeing a significant number of raw materials market representatives involved in the mineral resource exploitation project in Belgrade. He also emphasized that there are many compelling reasons for the implementation of the Jadar project in Serbia.

 

“It creates new value chain potentials and provides opportunities for job creation, not only in mining but also in other processing steps. It connects Serbia with the future of mobility, which must operate without carbon dioxide emissions. Therefore, it is a turning point for mobility in the future,” said Chancellor Scholz. He emphasized that everything will be done according to the highest environmental standards. He also added that improving electric mobility is crucial and that lithium is an indispensable raw material for achieving this.

 

 

“We need lithium, and that is the first message for the transition of mobility. Batteries are crucial for electric mobility, and lithium plays a role as important as oil has played until now. However, unlike oil, we do not burn this raw material, and it will instead be used for the long-term future,” the German Chancellor noted. He added that this represents a circular economy, meaning that materials extracted from the ground will be used more than once. He emphasized that mining is driving the circular economy, and that Serbia plays a key role in this process.

 

“It is crucial to adhere to the highest standards of environmental protection at ore mining sites. This is important not only for us but also for the future and the environment we all wish to live in. We are not just here to provide initial support; we will remain a partner throughout the implementation of environmentally responsible solutions, using our expertise in mining engineering,” German Chancellor Scholz said at the Summit. He added that Serbia’s example will encourage others to follow a similar path. 

 

 

Maroš Šefčovič, EC Vice-President in charge of Interinstitutional Relations and Strategic Foresight, stated that Serbia will play a central role in key strategic value chains. He remarked that July 19 will go down in history books as a great day for Serbia’s economy, marking the country’s steps toward securing a pivotal position in the European economy.  

 

 

President Vučić said at the press conference that he is proud of what was started today.

 

“We believe in the tremendous progress our country can achieve. This represents a major turning point—a significant change and a quantum leap into the future, something we once thought was beyond our reach. We are committed to transparency, ensuring that every aspect of this project will be open to the public. I will advocate for environmental protection in our country, including in Jadar and Radjevina, to ensure clean water, air, and land. This is why I am grateful for the knowledge and support we will receive from Germany and the EU in this regard. This project is set to be the largest foreign investment in our country and will bring substantial economic benefits. We aim to harness Serbia’s resources, preserve nature, improve the quality of life of citizens, and elevate wages and pensions. Our focus is on developing rapidly and aligning more closely with EU standards as soon as possible,” the president stated in his address. 

 

 

Chancellor of the Federal Republic of Germany Olaf Scholz remarked that the Jadar project benefits not only Serbia but also the entire region, stressing that the highest standards in environmental protection will be respected. He expressed his satisfaction with the important agreement signed between the European Commission and Serbia in Belgrade, noting that it will enhance cooperation in the supply of raw materials. 

 

 

“We need a resilient structure in the supply chains and must discover new sources of raw materials around the world, especially in countries fortunate enough to have them. I acknowledge that this decision requires courage, but it was made at the right time. We need climate-neutral electricity and, most importantly, batteries, and it is a positive development that this is now achievable,” said the German Chancellor. 

 

 

Maroš Šefčovič, EC Vice-President in charge of Interinstitutional Relations and Strategic Foresight, stated that the documents signed today will further strengthen the partnership between the EU and Serbia. He highlighted that these agreements will pave the way for the largest foreign direct investments in Serbia’s history. Šefčovič congratulated President Vučić and Serbia for the initiative they are leading in the fields of raw materials, batteries, and electric vehicles. He also thanked German Chancellor Scholz for his support and noted the significant participation of European companies in the signing of the agreement.

 

Belgrade,

July 19, 2024