Ukraine declassifies data on critical mineral reserves
Photo: Ukrainian Minister of Environmental Protection and Natural Resources Svitlana Hrynchuk (mev.gov.ua)
Ukraine is making its mineral resources more accessible to businesses. The government has declassified data on lithium, gold, titanium, and other strategic minerals to open access for investors and simplify the development of the sector, according to a statement by Ukrainian Minister of Environmental Protection and Natural Resources Svitlana Hrynchuk, delivered at the State and Business Forum: From Dialogue to Partnership.
Ukraine has officially declassified data on its mineral reserves, including critical materials such as lithium, gold, and titanium, to attract investors and stimulate the growth of the extractive sector. The reform also includes a large-scale digitization of geological information.
This move eliminates a Soviet-era restriction, the Classified label, previously applied to data on reserves, deposits, and extraction potential of strategic and critical minerals such as lithium, gold, titanium, platinum, diamonds, palladium, zirconium, iridium, and others. The only mineral for which information remains secret is uranium.
"The classification label has been lifted, and we are now finalizing all bureaucratic procedures to engage with investors and businesses fully," stated Svitlana Hrynchuk, Ukraine’s Minister of Environmental Protection and Natural Resources.
Geological data goes digital
The former secrecy around geological data, dating back to Soviet times, has long hindered business and investment. Now, this information will become accessible to investors.
Moreover, a portion of the geological reports will be digitized for easier use, thanks to support from the European Bank for Reconstruction and Development (EBRD). So far, 6,000 reports have been digitized, and the goal is to convert another 60,000 volumes of geological data soon.
"Just a week ago, we signed an agreement for the second phase of the project," Hrynchuk added. Talks are also underway with the US International Development Finance Corporation (DFC) to expand the initiative.
New strategic minerals lists and investor opportunities
In cooperation with the Ministry of Economy, Ukraine has compiled national lists of strategic and critical raw materials based on international frameworks, including the EU Critical Raw Materials Act and US legislation.
Some of the identified deposits will be offered to investors through auctions or production-sharing agreements.
Ukraine is also collaborating with European and US geological agencies to improve access to data. For example, in partnership with French specialists, a 3D model of the Zavalivske graphite deposit has already been developed.
Background
On May 1, Ukraine and the United States signed an agreement to establish a joint investment fund.
By June 16, the Ukrainian government approved initial steps under this historic deal, including preparations to open the large state-owned Dobra lithium deposit to private investors.
