Ukraine eyes mineral deals as US sets sights on rare metals
Ukrainian President Volodymyr Zelensky said on Tuesday that a significant element of the Victory Plan in the war with Russia involves investment from partners in utilizing the country's mineral resources. He assured that Ukraine is open to cooperation in this area and added that dates for a working visit by the US delegation have already been established.
One of the central economic aspects of the Victory Plan focuses on investing in Ukraine’s mineral resources. Since 2014, Russia has occupied parts of Ukrainian territory, where significant mineral deposits are located. Ukraine is willing to explore these resources in collaboration with partners who support its defense efforts through military aid, strategic presence, and sanctions against the aggressor. This position was emphasized by President Volodymyr Zelensky during his meeting with Rafael Grossi, the Director General of the International Atomic Energy Agency.
The president acknowledged that he discussed this issue in September with Donald Trump, who was a presidential candidate at the time and is now the resident of the White House.
Zelensky conveyed that Ukraine welcomes investments from American companies. He also stressed that if Ukrainian mineral resources were to come under Russian control, they could draw interest from countries such as Iran and North Korea.
Zelensky mentioned that his team is already in contact with President Trump's special envoy for Ukraine and Russia, retired General Keith Kellogg, and national security advisor Mike Waltz. Working dates for the American delegation's visit have already been set, he added.
Zelensky noted that, at that moment, the head of the Presidential Office, Andriy Yermak, had concluded discussions with Waltz, while his team had been in contact with Kellogg the previous day. He stated that the arrival dates for the American delegation had already been determined, with final arrangements being made regarding the exact schedule and team composition. Ukraine is now awaiting their arrival to proceed with joint efforts.
During Yermak's conversation with Waltz, the necessity of organizing personal contacts between the presidents of Ukraine and the USA in the near future was also discussed.
Donald Trump's ultimatum: Military assistance for rare earth metals
President Trump suggested on Monday that he requires Ukraine to secure US access to rare earth metals in exchange for further military assistance.
We're looking to do a deal with Ukraine where they're going to secure what we're giving them with their rare earths and other things, Trump said.
It is estimated that the Volyn-Azov shield area may contain 500,000 tons of this metal, known as white gold, as it plays a key role in the green transformation, including as a material for lithium-ion battery production. According to estimates, the value of metal deposits in Ukraine reaches 10-12 trillion dollars. Some of these resources are located in areas of Ukraine occupied by Russia.
