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illuminem summarizes for you the essential news of the day. Read the full piece on Euronews or enjoy below:
🗞️ Driving the news: The EU and Serbia have signed a memorandum of understanding, known as the "lithium deal," aiming to secure a significant lithium supply for Europe's green tech sector
• This agreement, celebrated in Belgrade with high-profile European leaders, highlights Serbia's role in providing essential raw materials for electric vehicles and other green technologies
🔭 The context: Serbia possesses a large lithium deposit estimated to supply up to 30% of Europe's electric car batteries
• The project, led by Rio Tinto, had previously stalled due to environmental protests but is now moving forward under strict regulatory oversight, promising job creation and economic growth
🌍 Why it matters for the planet: Lithium is crucial for the production of batteries, vital for the transition to renewable energy and electric vehicles
• The deal reduces Europe's dependence on distant and unstable supply chains, supporting the continent's broader green transition goals
⏭️ What's next: The Serbian government plans to keep the lithium within the country, promoting local processing and manufacturing
• This initiative aligns with the EU's strategy to strengthen its green tech supply chain and reduce environmental impact through stringent standards
💬 One quote: "This project creates a new potential value chain and secures the possibility to create new jobs, not only in mining but in the other steps of processing," said German Chancellor Olaf Scholz
📈 One stat: The lithium deposit in Serbia's Jadar region could support 30% of Europe's electric car battery production
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