After months of tough negotiations, Ukraine and the US have reached a raw‑materials agreement that both sides call historic. Ukraine's mineral wealth includes rare‑earth elements essential for high‑tech products.
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00:01Ukraine is rich in valuable mineral resources.
00:04Experts say the country ranks among the world's top 10 for several of them.
00:09The agreement between the US and Ukraine lists 57 commodities, from aluminium to zinc,
00:14that will be developed jointly, including rare earth metals, essential for many high-tech products.
00:22Oil and gas are also to be extracted together,
00:25and Ukraine has considerable potential in those sectors as well.
00:30Various estimates put about 5% of the world's mineral resources within Ukraine, for example graphite.
00:37According to France's Bureau of Geological and Mining Research,
00:41Ukraine holds roughly 20% of global graphite deposits, a key material for battery production.
00:48Another example is iron.
00:50In 2022, Ukraine was the world's 10th largest iron producer, according to world mining data.
00:57And finally, there's lithium.
00:58Ukraine says it has one of Europe's largest lithium deposits, estimated at 500,000 tons, but not yet developed.
01:07That's according to Volodymyr Landa of the Center for Economic Strategy, a leading Ukrainian think tank.
01:12Currently, lithium is not mined at an industrial level in Ukraine, although the reserves have been identified.
01:23And it is thought that Ukraine may rank second in Europe for this metal.
01:28This is not a large share of global reserves, but for diversifying supply, especially since so much lithium is in China,
01:36It is a very important and strategic point.
01:44The biggest obstacle is not the lack of extraction infrastructure, but Russia's war of aggression.
01:50Russian forces currently occupy about 20% of Ukrainian territory, mainly in the east.
01:57Estimates by the WeBuild Ukraine think tank and the National Institute for Strategic Studies
02:02indicate that roughly 40% of Ukraine's metal resources are now under Russian control.
02:08The European Unionijn names close to the United States are slow.
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