Ukraine and the US are progressing on projects related to the mineral agreement.

The inaugural meeting of the fund’s governing board is set for late July, with the fund expected to begin operations by year’s end. Economy Minister Yulia Svyrydenko commented on their partnership to establish the American-Ukrainian Reconstruction Investment Fund, which she said could commence its activities by December following her trip to Washington.

“An important meeting with Treasury Secretary Scott Bessent. We are working on projects in the fields of graphite, lithium, and titanium,” she stated.

The initial meeting of the fund’s governing board aims to approve committees, project selection processes, start-up capital, and an investment strategy for the upcoming years. The Ukrainian side also suggested expanding the fund’s investment mandate to support defense companies in Ukraine, to which the US responded positively, showing willingness in this regard.

Furthermore, Ukrainian mining company Velta has obtained data on potential deposits of rare earth metals at the Byrzulivske titanium ore site in the Kirovograd region. Recent research has indicated the presence of various essential elements in the local ilmenite, including niobium, vanadium, hafnium, scandium, yttrium, lanthanum, cerium, neodymium, and thorium.