According to the director of the National Association of Extractive Industries of Ukraine, Ksenia Orynchak, these deposits include titanium ores, kaolin, iron ore, and graphite, and Russia started this war to obtain access to such resources.
“The most intense hostilities continue exactly where the most resources are accumulated. There are coal deposits worth approximately $7T and other minerals estimated at $12-13T in the occupied territories,” Orynchak said.
Also, Ukraine is among the top five countries in terms of graphite reserves, which amount to about 19 million tons. Previously, the entire volume of graphite was exported to China, and now is mainly exported to the EU.
Therefore, Orynchak emphasized that integration with the EU will bring Ukraine access to European markets and technologies, attract foreign investment, modernize the mining industry, and improve production standards and environmental safety. In return, the EU will receive a stable supply of critical resources, decreased dependence on China and the US, and an increase in the competitiveness of the European economy.