Ukrainian President Volodymyr Zelensky is preparing to meet US President Donald Trump in Washington this Friday to sign a deal that will provide the United States access to Ukraine's rare earth mineral resources, including vital materials like graphite, titanium, lithium, and other key minerals used in technology and defense industries.
The agreement will establish an "investment fund" aimed at Ukraine's reconstruction, with both countries managing the fund equally. In exchange, Ukraine will contribute 50% of future proceeds from state-owned mineral resources, oil, and gas to the fund, which will then be used for infrastructure and development projects across the war-torn nation.
This agreement comes as a strategic move to bolster Ukraine's economy (they hope so) while providing the US with access to critical raw materials (the main purpose of this story).
Zelensky seems that has been pushing for clear security guarantees from the US, which would help Ukraine defend itself amidst the ongoing war with Russia. US officials have made it clear that they will not offer extensive security guarantees, asserting that the responsibility for Ukraine's defense largely falls to Europe.
Ukraine's mineral deposits are considerable, with reserves that account for a significant share of the world's critical raw materials. Both Russia and United States managed to have access to its deposits of rare earth minerals, by implementing different approaches.
Kyiv estimates that about 5% of the world's "critical raw materials" are in Ukraine, despite covering only 0.4% of the globe's surface. This includes some 19m tonnes of proven reserves of graphite, which the Ukrainian Geological Survey state agency says makes the nation "one of the top five leading countries" for the supply of the mineral. Graphite is used to make batteries (for electric vehicles etc.).
The country has deposits of 22 of the 34 minerals identified as critical by the European Union, including rare earths such as lanthanum, cerium, neodymium, erbium and yttrium, according to reports.
Ukraine also has significant deposits of titanium, lithium and rare earth metals - a group of 17 elements that are used to produce weapons, wind turbines, electronics and other products vital in the modern world. A total resources worth of over 350 billion dollars have been seized by Russia, according to unofficial reports.