In 2021, Rio Tinto filed a notice of dispute related to the government announcement to cancel the Lithium project in the Jadar Valley under the UK-Serbia bilateral investment agreement.
Rio Tinto has officially notified the Serbian government about initiating arbitration proceedings concerning the halted Jadar project, under the bilateral investment treaty between the UK and Serbia.
The subject of the arbitration is given as ‘transportation fare collection services’, and invokes the 2001 bilateral investment treaty between Turkey/Türkiye and Yugoslavia as the basis for the claim.
Netherlands-based United Group claims that Serbia has violated several obligations related to incentives and mutual protection of investments between the two countries.