A Shift in Strategy
Rio Tinto has shelved its $US2.4 billion Jadar lithium project in Serbia, marking a sharp strategic shift under new chief executive Simon Trott. The miner is tightening capital spending and focusing on cost discipline after several years of expansion.
Once promoted as Europe’s flagship lithium mine, Jadar has now been placed on “care and maintenance," paused, but not abandoned.
Rio’s workforce grew 26% between 2020 and 2024, and with lithium prices normalising, Trott is steering the company away from aggressive growth and toward measured capital allocation.
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