Russia seizes part of Ukraine's rare earth deposits: What's now under occupation
Illustrative photo: Some of Ukraine's rare earths are under Russian occupation (Getty Images)
Some of Ukraine's rare earth minerals are under Russian occupation. In particular, the Russians seized the Shevchenkivske lithium deposit, Olena Remezova, Doctor of Science in Geology, Chief of Mineral Deposits Geology Department of the Institute of Geological Sciences of the National Academy of Sciences of Ukraine, told RBC-Ukraine in an interview.
Most of the rare earth minerals found in Ukraine are concentrated in the Azov region, and partially in the north and center of Ukraine.
There are a number of deposits in the central Ukrainian zone, such as Azovske, Pokrovsko-Kyreivske, Petrovo-Hnutivske, and Mazurivske. Some of them are occupied by Russian invaders.
“They are promising and contain a whole range of rare elements, including rare earths,” said Olena Remezova.
She added that the Shevchenkivske lithium deposit is also under occupation. But a significant part of lithium deposits remains in the center of Ukraine.
“If American interests are present here, I believe the occupation will quickly disappear. Because the US won’t pass up this opportunity. Various figures are given, according to which China controls about 60%, sometimes up to 80% of the global rare earth metals market. Of course, the Americans don’t like that, and they will look for reserves to support their production,” Remezova said.
What makes these deposits unique
As the expert explained, the Eastern Azov region has great prospects for the extraction of important metals. There are two main deposits here: Mazurivske and Azovske. The latter is Ukraine's only comprehensive deposit of zirconium and rare earth elements.
According to Remezova, the Petrovo-Hnutivske deposit is unique even by global standards. Its ore contains a lot of parisite, a rare mineral with cerium that is rarely found in other countries.
The agreement between Ukraine and the United States
On May 1, Ukraine and the United States signed an important agreement on natural resources. On May 8, the Verkhovna Rada ratified the strategic agreement, which paved the way for a joint investment fund for reconstruction.
The agreement between Ukraine and the United States covers partnerships in critical minerals extraction. The profits from these will be directed to the Reconstruction Fund.
Initially, the parties agreed to cooperate on rare earth metals in Ukraine, but later the terms were expanded. The agreement covers 57 types of Ukrainian minerals. Ukraine retains full control over the deposits, infrastructure, and the resources themselves, as no transfer of subsoil to foreign companies is anticipated.
The fund will invest in the extraction and processing of minerals, as well as in the development of the relevant infrastructure. During the first ten years, profits will remain in Ukraine, and later they may be divided among the partners. US military assistance will also be counted as a contribution to the joint fund.
Read more about rare earth minerals in Ukraine by following the link.
