Rio Tinto investing in Serbia exploration, mining projects

Currently, the price of a ton of Lithium stands at 17000 dollar. Rio Tinto invest 90 million Euro and gets to keep 75% of what is dug up. Sounds like a sweet deal to me for Rio Tinto.

Rio tinto is one of the most corrupt mining companies in the world. Unbelievable what is happening as serbia is under brutal occupation with puppet installed traitor regime corrupt to the core with lunatic vucic. Giving away very precious natural resources to these bandits.

@Joe A

The 75 percent figure refers to copper and gold exploration rights concerning several sites in eastern Serbia.

The EUR 90mln investment mentioned in the report refers to a future lithium mine in the west. The report does not go into other possible arrangements between the company and the state in that case.

Regards,

Currently, the price of a ton of Lithium stands at 17000 dollar. Rio Tinto invest 90 million Euro and gets to keep 75% of what is dug up. Sounds like a sweet deal to me for Rio Tinto.
(Joe A, 27 March 2018 14:31)

It does not work like that mate. Yes Rio Tinto does spend a lot of money on developing the site and will get an excellent return, but they have to pay big royalties on Lithium extraction. No one just gives it away and if any government did that then they would disappear over night into the history books.

"the site holds almost ten percent of the planet's total lithium reserves. The metal is used in state-of-the-art technologies."

Good thing that Serbia is letting someone else reap the rewards! We don't have oil, we don't have the sea, but we have tons of mineral deposits including gold. But we don't mine it ourselves???

Rio tinto is one of the most corrupt mining companies in the world. Unbelievable what is happening as serbia is under brutal occupation with puppet installed traitor regime corrupt to the core with lunatic vucic. Giving away very precious natural resources to these bandits.

Currently, the price of a ton of Lithium stands at 17000 dollar. Rio Tinto invest 90 million Euro and gets to keep 75% of what is dug up. Sounds like a sweet deal to me for Rio Tinto.

@Joe A

The 75 percent figure refers to copper and gold exploration rights concerning several sites in eastern Serbia.

The EUR 90mln investment mentioned in the report refers to a future lithium mine in the west. The report does not go into other possible arrangements between the company and the state in that case.

Regards,

Currently, the price of a ton of Lithium stands at 17000 dollar. Rio Tinto invest 90 million Euro and gets to keep 75% of what is dug up. Sounds like a sweet deal to me for Rio Tinto.
(Joe A, 27 March 2018 14:31)

It does not work like that mate. Yes Rio Tinto does spend a lot of money on developing the site and will get an excellent return, but they have to pay big royalties on Lithium extraction. No one just gives it away and if any government did that then they would disappear over night into the history books.

"the site holds almost ten percent of the planet's total lithium reserves. The metal is used in state-of-the-art technologies."

Good thing that Serbia is letting someone else reap the rewards! We don't have oil, we don't have the sea, but we have tons of mineral deposits including gold. But we don't mine it ourselves???