- Exploitation is not simple;
- Only a few countries have deposits;
- There are no direct substitutes for them;
- Only small amounts of materials are used in the end use, making them difficult to reuse;
- Increasing supply is often prevented by large price fluctuations due to unbalanced supply and demand. For example, the price of lithium has been steadily increasing since the beginning of 2021 with a record on 11/14/2022. from 85,000 USD/t at the current price of 69,000 USD/t.
Action plan for critical raw materials
The EC has launched its Action Plan for Critical Raw Materials, as well as other projects that could be operational by 2025, including Horizon Europe to support research and innovation, and the development of international partnerships, to ensure the supply of critical materials that are not available in the EU. They include developing new mining technologies, expanding domestic sources of critical materials, improving materials and processing efficiency, accelerating product innovation and finding alternative materials, developing recycling technologies, and improving the sustainability of mining and processing operations. National organizations have been formed for the analysis of supply chains and the development of economically and environmentally acceptable production and recycling processes (e.g. Critical Materials Institute in the USA, German Rohstoffagentur, Geoscience, Australia, Geological Survey of Canada), and government funding programs (e.g. IRA in the USA of USD 369 billion and the EU industrial plan within the Green Deal with EUR 250 billion). Certain countries, such as Finland, Britain, Portugal, Germany and France, are rapidly developing projects for the exploitation of certain raw materials, e.g. of lithium, in order to gain strategic and economic advantage and profit. Of course, companies play a key role, with the top ten automakers planning to spend $1.2 billion by 2030 on EV development, batteries and materials. All this will lead to new projects, so it is crucial that all activities during the entire supply chain are dedicated to sustainable exploitation, safe working conditions, local economic development, respect for cultural and natural heritage.Serbia’s chance in Europe’s industrial revolution
Today, Serbia lives and works in such a world, significantly affected by climate change. But also with the opportunity to become one of the most important countries in the energy transition, an integral part of the chain of production of the most important products of the present and near and far future. Serbia is potentially able to become part of Europe’s industrial revolution, but many developments surrounding the Jadar project threaten to keep it on the margins of success instead. Serbia’s potential in the production of batteries and electric vehicles is significant due to:- Own unique deposit of high-quality lithium, with quantities that currently place the project in one of the leading places in Europe;
- Rich traditions in the field of mining and industrial processing;
- Quality experts and researchers;
- Industrial zones that can support the development of related industries;
- Proximity to major OEMs.