TechMet, an Irish mining company that specializes in mineral extraction and is partially owned by the US International Development Finance Corporation, intends to develop a lithium deposit in Ukraine. This project could be among the first to be implemented under a cooperation agreement between the US and Ukraine in the mineral sector.
It involves the Dobra lithium ore site in the Kirovograd region. TechMet CEO Brian Menell noted that the lithium resources at this location are “very significant,” and the company has been considering this site since 2023. TechMet’s investment partner in developing the lithium ore site may be Ronald Lauder, a billionaire friend of US President Trump.
Menell mentioned that TechMet is also exploring other potential areas in Ukraine beyond the Dobra lithium deposit, including titanium, uranium, and graphite extraction sites. The demand for lithium, which is used in electric vehicle batteries, is projected to grow over the next decade. TechMet aims to be among the bidders for the project, which would entail building a lithium mine and processing facilities.