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U.S. President Donald Trump announced on Tuesday that Ukraine had “essentially agreed” to a deal with the United States regarding rare earths, a critical component in modern technology and defense industries.
“I told them that I want the equivalent of like $500 billion worth of rare earths, and they’ve essentially agreed to do that,” Trump stated. The development comes amid growing tensions between the U.S.
and China, the world’s largest producer of rare earth minerals. Both the U.S.
and Europe have been seeking to reduce their dependence on Beijing for these crucial resources. Zelenskiy Open to U.S.
Involvement in Ukraine’s Mineral Sector Ukrainian President Volodymyr Zelenskiy, in an interview with Reuters on February 8, expressed willingness to collaborate with the U.S. on developing Ukraine’s extensive deposits of rare earth minerals and other critical resources.
Rare earth minerals, a group of 17 metals, play an essential role in various industries, including electric vehicles, mobile devices, and defense systems. The U.S.
Geological Survey identifies 50 minerals as critical, including several rare earth elements, nickel, and lithium. Ukraine’s Rich Rare Earths Mineral Reserves Often referred to as the “breadbasket of Europe,” Ukraine also possesses vast mineral wealth. Data from the country’s Economy Ministry indicates that Ukraine holds deposits of 22 out of the 34 minerals classified as critical by the European Union.
These include industrial and construction materials, ferroalloys, precious and non-ferrous metals, and some rare earth elements. However, Ukraine’s vast coal reserves remain a contentious issue, as a significant portion is now under Russian control in occupied territories. Key Rare Earths in Ukraine According to the Institute of Geology, Ukraine has reserves of several key rare earth elements, including: Zelenskiy stated in an interview on Friday that Russia has occupied about half of Ukraine’s rare earth deposits.
While Ukraine has significant reserves of titanium and uranium—the largest in Europe—mining analysts and economists note that the country does not currently have any commercially operational rare earth mines. Strategic Importance of Ukraine’s Mineral Resources The World Economic Forum recognizes Ukraine as a potential major supplier of several critical minerals, including lithium, beryllium, manganese, gallium, zirconium, graphite, apatite, fluorite, and nickel. According to the State Geological Service, Ukraine has an estimated 500,000 metric tons of lithium—crucial for batteries, ceramics, and glass—making it one of the largest confirmed reserves in Europe.
Titanium reserves are primarily located in the northwestern and central regions, while lithium is found in central, eastern, and southeastern Ukraine. Additionally, the country holds 20% of the world’s known graphite reserves, a key material for electric vehicle batteries and nuclear reactors. Also Read: US Vice President JD Vance Meets Ukraine’s Zelensky In Munich For Key Talks On Ending Russia’s War.
