Prices for lithium, the building block of electric-vehicle batteries, shot to a record this year, amplifying concerns there won’t be enough of the metal to fuel the switch away from combustion engines. In that climate, now should be a prime time to build a mine.
Rio Tinto Group is finding out otherwise. Within months of unveiling plans for a $2.4 billion mine in western Serbia, local opponents organized a movement that’s rocked the government and brought cities to a standstill as thousands of protesters march in the streets. Authorities subsequently suspended a land-use plan for the proposed mine, though they didn’t reject the project completely.