A Ukrainian rare earth element deposit with confirmed reserves needs around $300M for development.

Researchers from the Institute of Economics and Forecasting at the National Academy of Sciences of Ukraine indicate that while the country possesses certain reserves of rare earth elements (REE), most were identified during the Soviet era, necessitating updated assessments. Furthermore, many potential deposits are situated in regions currently occupied by the Russian Federation or near active combat zones.

Experts highlight: “Today, Ukraine lacks the required infrastructure to fully extract and process these elements.”

Among the six identified REE deposits in Ukraine, only the Novopoltavske deposit in the Zaporizhzhia region has confirmed reserves and is available for licensing. However, similar to other deposits, this one also needs around $300M for complete development. Additionally, China’s market dominance in the processing of these elements poses a significant hurdle for new REE projects.

Experts contend that for Ukraine to gain competitiveness in the global REE market, it must establish a complete value-added chain, from extraction to the production of final products.