What could Ukraine gain from a mineral deal with the US?

Mykhailo Zhernov, the top manager at American mining company Critical Metals Corp, noted that launching mining and processing projects in Ukraine will require hundreds of millions of dollars in investment. He emphasized that Ukraine already possesses extensive historical experience in mining. Additionally, proper and transparent regulation will enable large investors to enter the market quickly and begin exploring Ukraine’s natural resources. As an example, Critical Metals plans to invest $1B in Ukrainian lithium extraction.

Regarding rare earth materials, Zhernov stated, “Ukraine possesses these materials. To understand their true value, geological exploration is necessary. Perhaps having American partners will expedite attracting investors, who would receive backing from the Ukrainian and US governments, to swiftly conduct exploration and commence mining.”

Ukrainian rare earth minerals are of interest to the US defense, aerospace, automotive, and energy industries. Zhernov pointed out that this is beneficial for Ukraine as it will lead to substantial investment, job creation, and infrastructure development.