Minerals deal: US delegation inspects first potential deposits in Ukraine
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
US representatives were shown the first deposits that could become initial projects for the Ukraine Reconstruction Investment Fund under the minerals deal, according to a Facebook post by Ukraine’s Minister of Economy, Environment, and Agriculture, Oleksii Sobolev.
"Together with a delegation from the US International Development Finance Corporation, we visited the Kirovohrad region to assess investment opportunities in extraction and processing in the area," Sobolev said.
According to the minister, they inspected the Byrzuliv Mining and Processing Plant and the Likarivske deposit — promising sites being considered for the Fund’s project portfolio.
"Here, titanium ores are primarily extracted, and zirconium ore extraction is also planned for the future. There are potential hafnium deposits as well — a rare-earth metal used in nuclear energy, aerospace, and other industries," Sobolev noted.
He reminded that Ukraine is one of the world’s key titanium suppliers, used in defense, aerospace, and high-tech industries, with strong demand in the US, Europe, and Latin America.
"Such visits are important to evaluate potential on the ground, taking into account all aspects of future investments — for economic development, responsible environmental practices, and the future growth of local communities," the minister added.
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Photo: US delegation shown the first potential deposits in Ukraine under the minerals deal (facebook.com/oleksii.sobolev)
Minerals deal
On May 1, Ukraine and the US signed an agreement to establish the US–Ukraine Reconstruction Investment Fund. Following this, on May 8, the Verkhovna Rada (Parliament) ratified the intergovernmental agreement.
President of Ukraine Volodymyr Zelenskyy signed the law on May 12, completing the ratification process.
The remaining agreements will be of a commercial nature and will no longer be signed by the government.
Also in May, Ukraine and the US launched a joint fund for the country's reconstruction. The parties will invest in joint projects in Ukraine, including in the extraction of critical minerals.
Recently, the Cabinet of Ministers delegated representatives to the governing board of the Ukraine Reconstruction Investment Fund, including Ukraine’s Minister of Economy, Environment, and Agriculture, Oleksii Sobolev.
It was also reported that the first projects under the US minerals deal could be identified as early as September.
For more details on the fund’s launch, the expected timing of the first projects, and the obstacles facing Western investment in Ukraine’s subsoil resources, see the report by RBC-Ukraine.
