Subsoil agreement with the US: Ukraine allowed the development of a state-owned lithium deposit
Фото: Reuters
Ukraine has approved the start of the process to allow private companies to develop the state-owned Dobra lithium ore site. This step took place within the framework of the implementation of the subsoil agreement with the United States.
This was reported by the American publication The New York Times, citing unnamed sources in the Ukrainian government.
According to sources, the Ukrainian government has agreed to begin preparing recommendations for opening a tender for companies to develop a lithium deposit at the Dobra site in the Kirovohrad region.
As the publication notes, this is one of Ukraine’s largest deposits of lithium, a mineral that is critically important for the production of electric batteries.
“The preparation of the recommendations is expected to take several weeks, and the Ukrainian government may still decide not to open the bidding,” the material says.
There are currently no official comments from the Ukrainian government.
Among the potential bidders is a consortium of investors that includes energy investment company TechMet and billionaire Ronald Lauder, a friend of Donald Trump.
As the publication notes, the aforementioned consortium has long expressed interest in the Dobra lithium deposit. Back in late 2023, this group called on Ukrainian President Volodymyr Zelensky to open bidding.
The article notes that the Ukrainian government’s decision indicates Ukraine’s desire to show US President Trump that the agreement is moving forward – amid growing concerns that the White House may distance itself from the peace process due to the delay in ceasefire talks with Russia.
According to the publication, Ukrainian authorities have stated that the country is home to nearly half of the 50 minerals that the United States considers most important for its economy and national security, including lithium, graphite, and titanium.
At the same time, industry analysts warn that most projects under the Ukraine-U.S. deal will likely take a decade or more to become operational. This means that the joint U.S.-Ukraine investment fund is unlikely to generate significant returns for many years and may not become profitable until long after Trump leaves office.
In addition, experts say that the path to mineral extraction in Ukraine is currently fraught with numerous difficulties.
“Outdated geological research may obscure the true value of Ukraine’s mineral resources. Damaged power plants needed to extract resources need repair, and the ongoing war makes any investment inherently risky,” the material says.
Recall that on Wednesday, June 4, the Verkhovna Rada finally supported amendments to the Budget Code in order to implement the mineral agreement between Ukraine and the United States.
As reported, on the night of Thursday, May 1, Ukraine and the United States signed a strategic agreement on the creation of a Reconstruction Investment Fund and a partnership in the field of critical minerals.
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