Points clés
- Bora Pasuljević and Varnava Petrović were appointed in place of Australian managers Bluit and Hayt.
- The new managers will oversee the Jadar lithium project in Serbia during its "care and maintenance" phase.
- Rio Sava recorded a net loss of 51.5 million euros last year, but managed to reduce its loss by 21 percent.
- Pasuljević has over 20 years of international project management experience and runs a consulting firm in London.
En chiffres
Mining giant Rio Tinto has appointed local experts in place of foreign managers at its Serbian subsidiary, Rio Sava Exploration. Chad Bluit, the long-time Australian chairman of the company, officially ended his role on 14 July, and he was replaced by Varnava Petrović. Bluit was preceded in his departure about ten days ago by Jamie Hayt, the other legal representative, who was replaced by Bora Pasuljević.
Pasuljević and Petrović have been tasked with managing the "care and maintenance" phase of the controversial Jadar lithium project in Serbia. The company had previously announced that during this phase, it plans to comprehensively evaluate the project's costs, employee count, and resources. The two new names were also appointed as chairmen of the board at Jadar Free Zone Management Company, which is a subsidiary of Rio Sava and was established in 2021.
According to financial reports, Rio Sava recorded a net loss of 6 billion dinars (51.5 million euros) last year. However, thanks to cutting expenses, the company managed to reduce its loss by 21 percent compared to the previous year. Despite this, financial documents show that hopes for the restart of the Jadar project continue with the continuous financial support provided by the parent company.
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Questions fréquentes
- Who did Rio Tinto dismiss and appoint in Serbia?
- Varnava Petrović and Bora Pasuljević were appointed in place of Australian managers Chad Bluit and Jamie Hayt, respectively.
- What is the current status of the Jadar lithium project?
- The project has been placed in a "care and maintenance" phase, during which costs and resources are being comprehensively evaluated.
- What is the professional background of the new manager, Bora Pasuljević?
- Pasuljević is a strategic project management expert with over 20 years of experience, having worked at firms such as Deloitte and Ernst & Young, and currently resides in London.
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