More than a month after Ukraine signed a landmark agreement granting the United States a stake in its mineral reserves, Kyiv has approved initial steps to open one of its largest lithium deposits to private investors, the New York Times (NYT) reported, citing two government officials.
On June 16, the Ukrainian government agreed to begin drafting recommendations for a bidding process to develop the Dobra lithium field in central Ukraine. According to the officials, who spoke to NYT on condition of anonymity, this would be the first project advanced under the U.S.-Ukraine minerals deal.
The Dobra lithium ore site is located in the Novoukrainskyi district of Kirovohrad Oblast, rougly 300 kilometers southeast of Kyiv.
The deal, signed by President Volodymyr Zelensky on May 12, is aimed at deepening economic ties, boosting Ukraine's reconstruction, and positioning the country as a supplier of strategic resources to the U.S.
Among the likely bidders for the Dobra field is a consortium including TechMet, an energy investment firm partly owned by the U.S. government, and billionaire Ronald S. Lauder, a close associate of the U.S. President Donald Trump. The group has long expressed interest in the Dobra site and encouraged Zelensky to open it to bids last year.
Under the broader agreement, half of the revenues from mineral extraction would go to a joint U.S.-Ukraine investment fund. While the Ukrainian government would reinvest its share into the domestic economy, the United States would claim a portion of the profits — a structure Mr. Trump has framed as partial repayment for U.S. assistance to Ukraine.
TechMet CEO Brian Menell said investors were pushing for production-sharing agreements, which offer long-term stability and tax incentives. Monday’s step toward opening the Dobra field is based on such an arrangement, according to the outlet.
The Kyiv Independent news desk
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