The value of Ukraine’s mineral resources could reach $15T.

According to Ksenia Orinchak, the executive director of the National Association of Mining Industries of Ukraine, this figure is approximate and depends on various factors, including global mineral prices, production volumes, and the costs associated with developing the deposits.

Typically, the time from initial geological surveys to the commencement of industrial production ranges from 7 to 20 years, depending on the type of mineral. Additionally, the mining industry is very capital intensive.

Orinchak pointed out that while Ukraine cannot compete with the Russian Federation in terms of mineral reserves, it can offer the US several strategic advantages. Barriers to American companies returning to the Russian Federation include sanctions, which lead to logistical, legal, and political challenges, as well as the unpredictability of Russia’s economic policies.

Ukraine possesses significant reserves of titanium, lithium, nickel, and rare earth elements, all of which are essential for the high-tech industry and the US defense sector. The Ukrainian mining industry can develop according to Western standards, because Ukraine is politically and economically aligned.