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ERBIL, Kurdistan Region - Ukraine’s vast rare mineral reserves are attracting increasing global attention, as Kyiv explores the possibility of striking a deal with Washington to repay the United States for the aid provided during the war with Russia.
In an interview with Rudaw, 78-year-old geologist Volodymyr Petrovich described Ukraine as an untapped mineral paradise.
"We have agricultural, mining, and chemical resources. If approached correctly, we could tap into these minerals. Even rare minerals, once extracted, could be used to create building materials or components for concrete," Petrovich said.
Known for its fertile agricultural land, Ukraine is a major producer of wheat and sunflower, however, the country’s vast underground wealth is now drawing increased global attention.
Its rare minerals, crucial for technologies like electric vehicles, mobile phones, AI systems, and advanced weapons like F-35 fighter jets, position Ukraine as a significant player in the global resources market.
Ukrainian officials estimate that the country holds about five percent of the world’s rare minerals.
Kyiv and Washington are currently in talks about a potential agreement allowing Ukraine to use these mineral resources to repay the more than $180 billion in military and humanitarian aid the US has provided since the start of the war.
Russia launched its military campaign against Ukraine in February 2022, leading to the deaths of over 12,000 civilians.
An estimated 3.7 million Ukrainians have been displaced internally, while around 6.1 million have sought refuge in Europe and beyond, according to United Nations data.
In an interview with Rudaw, 78-year-old geologist Volodymyr Petrovich described Ukraine as an untapped mineral paradise.
"We have agricultural, mining, and chemical resources. If approached correctly, we could tap into these minerals. Even rare minerals, once extracted, could be used to create building materials or components for concrete," Petrovich said.
Known for its fertile agricultural land, Ukraine is a major producer of wheat and sunflower, however, the country’s vast underground wealth is now drawing increased global attention.
Its rare minerals, crucial for technologies like electric vehicles, mobile phones, AI systems, and advanced weapons like F-35 fighter jets, position Ukraine as a significant player in the global resources market.
Ukrainian officials estimate that the country holds about five percent of the world’s rare minerals.
Kyiv and Washington are currently in talks about a potential agreement allowing Ukraine to use these mineral resources to repay the more than $180 billion in military and humanitarian aid the US has provided since the start of the war.
Russia launched its military campaign against Ukraine in February 2022, leading to the deaths of over 12,000 civilians.
An estimated 3.7 million Ukrainians have been displaced internally, while around 6.1 million have sought refuge in Europe and beyond, according to United Nations data.
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