08:57 AM EST, 11/13/2025 (MT Newswires) -- Rio Tinto (RIO) has decided to place its Jadar lithium project in Serbia under care and maintenance as part of efforts to streamline operations and focus on near-term growth, multiple news outlets reported Thursday, citing an internal memo by Chief Executive Officer Simon Trott.

The company still views Jadar as important but cannot sustain current spending given the lack of permitting progress, the news outlets quoted Trott as saying.

The Jadar project, promoted as a future lithium source for the European market, was designated by the European Union as a strategic project under the Critical Raw Materials Act.

Rio Tinto did not immediately respond to MT Newswires' request for comment.