Key Ukrainian lithium project awarded to investment group tied to Trump, NYT reports
Kyiv has awarded a bid to a group of investors to mine one of the Ukrainian state's most promising lithium deposits following a tender for a production sharing agreement launched in the summer, the New York Times reported on Jan. 8, citing two anonymous Ukrainian officials.
Ukraine’s government still needs to formally sign the agreement, but the two officials told the NYT that the decision has essentially been made by a government commission.
The consortium of investors awarded the bid includes TechMet, a mining company backed by the U.S. government, and billionaire Ronald S. Lauder, a close associate of U.S. President Donald Trump.
In response to an inquiry from the Kyiv Independent, TechMet declined to comment. Ukraine's Economy Ministry and the U.S. State Department did not respond to a request for comment from Kyiv Independent by the time of publication.
The consortium has long expressed interest in the untapped lithium deposit, known as Dobra, in the central Kirovohrad Oblast. It’s one of Ukraine’s most promising mineral sites, containing between 80-105 million metric tons of lithium, which is classified by the U.S. as a critical mineral due to its use in green technology.
Kyiv officially launched an auction for the Dobra site in August 2025, with TechMet seen as the likely winner early on. This was largely due to the company having the backing of the U.S. International Development Finance Corporation (DFC), a government agency established under Trump’s first term.
The DFC did not respond to a request for comment from Kyiv Independent by the time of publication.
Since Trump took office, Kyiv has positioned its natural resources as enticing investment opportunities to American businesses, in a bid to keep Trump on side. This includes the minerals deal, a 2025 agreement that gave preferential access to U.S. investors through a U.S.-Ukraine reconstruction fund, which was jointly developed with the DFC.
After months of preparation, the fund became operational late last year. On Jan. 7, Ukraine and the U.S. launched an online portal to begin accepting project proposals to the fund.
Kyiv hopes to attract three projects this year to the fund, with critical minerals listed as a target sector.
President Volodymyr Zelensky has ramped up focus on Ukraine's economic potential amid the ongoing peace negotiation talks with its Western partners. Most recently, Kyiv has announced an $800 billion "prosperity plan" to encourage foreign investment in the country.
While little is known about the plan for now, official statements describe a 10-year framework involving Ukraine, the U.S., EU, and G7 partners aimed at mobilizing that $800 billion through a mix of public and private investment.
