KYIV – Ukraine is reportedly looking to curry favour with the incoming Trump administration by offering concessions on its vast reserves of critical minerals, estimated to be worth up to $11.5 trillion, The New York Times has revealed.
These resources are vital to various high-tech and industrial applications, making them a strategic asset in global supply chains.
Ukraine’s mineral wealth includes some of the world’s most sought-after materials, many of which are crucial for industries ranging from electric vehicles (EVs) to aerospace and military technologies. However, the ongoing conflict with Russia has complicated access to these resources, with several major deposits now under Russian control.
Ukraine’s Top 10 Critical Mineral Resources
- Lithium:
Ukraine holds approximately 500,000 tons of lithium reserves, essential for manufacturing batteries in EVs. Notably, two significant lithium deposits in the Donetsk and Zaporizhzhia regions are now under Russian control. - Titanium:
With an estimated 8.4 million tons of reserves, primarily in central Ukraine, titanium is indispensable to industries such as aerospace, defence, and medical equipment manufacturing. - Gallium:
Once the world’s third-largest producer, Ukraine annually produced about four tonnes of gallium, a key component in semiconductors and LEDs. This resource is found in small concentrations within other metal ores. - Manganese:
With 140 million tonnes of reserves, concentrated in the Dnipropetrovsk and Zaporizhzhia regions, manganese enhances the strength and durability of steel. Zaporizhzhia’s reserves are now under Russian control. - Beryllium:
Proven reserves of 5,515 tons are located in the Zhytomyr region. Beryllium is critical for nuclear power, military applications, and the aerospace industry. - Graphite:
Ukraine possesses 17.9 million tons of graphite reserves, found in regions such as Zhytomyr and Kirovohrad. Graphite is integral to telecommunications, medical devices, and military equipment production. - Uranium:
According to the International Atomic Energy Agency (IAEA), Ukraine’s uranium reserves stand at approximately 185,400 tonnes, located in the Kirovohrad and Dnipropetrovsk regions. This resource is vital for nuclear energy generation. - Nickel:
Deposits of nickel, estimated at 215,000 tons, are found in the Kirovohrad and Dnipropetrovsk regions. Nickel is a critical component of lithium-ion batteries used in EVs. - Cobalt:
Ukraine holds 8,800 tons of cobalt reserves, mostly in the Kirovohrad and Dnipropetrovsk regions. Cobalt is a key material for battery cathodes and petrochemical processes. - Iron Ore:
Ukraine is home to around 30 billion tonnes of iron ore reserves, with 90% of production concentrated in the Dnipropetrovsk region. Iron ore is the primary raw material for steel production.
Global Implications and Geopolitical Significance
The strategic importance of these minerals cannot be overstated. Lithium, nickel, and cobalt are at the heart of the EV revolution, while titanium and gallium are indispensable to defence and technology sectors. Ukraine’s uranium reserves also position it as a potential player in global nuclear energy markets.
However, the ongoing conflict with Russia has significantly disrupted Ukraine’s ability to capitalise on these resources. Major reserves in regions such as Zaporizhzhia and Donetsk are under Russian control, limiting Kyiv’s access to some of the most valuable deposits.
The report suggests that Ukraine’s leadership is attempting to leverage these assets to strengthen its strategic partnerships, particularly with the United States, amidst a shifting global political landscape. Whether these concessions will yield the desired political support remains to be seen.
Conclusion
Ukraine’s vast mineral wealth underscores its critical role in global supply chains, particularly as the world transitions to renewable energy and advanced technologies. However, the ongoing geopolitical tensions and competition over these resources highlight the challenges Kyiv faces in fully harnessing its natural potential.
Source: New York Times
