Phytomining is a currently developing biotechnology aiming to extract rare and precious metals from naturally enriched or polluted soils with the help of hyperaccumulator plants. On the territory of the Balkans, hyperaccumulating species mainly accumulate elements such as nickel, zinc, thallium, copper and arsenic. This paper provides an overview of the studied technologies around the world for the extraction of these elements from hyperaccumulator's biomass, as well as the areas of potential application of the obtained products. Phytomining has a potential for development in Serbia, and for this purpose it is necessary to utilitized available hyperaccumulators, as well as to investigate technologies for the extraction of metals from their biomass.