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The US and Ukraine Reach Agreement on Mineral Extraction – US Treasury Secretary
US Treasury Secretary Bessent announced that Washington and Kyiv have approved an agreement on mineral extraction. The final step remains the signing of the document by the leaders of both countries.
US Treasury Secretary Bessent stated that the United States and Ukraine have concluded negotiations and approved an agreement on mineral extraction.
"I was in Kyiv two weeks ago and met with President Zelensky. Since then, we have finalized the deal. Their governing board has approved it. I have an agreement from their Minister of Economy. The deal is done. Now, we are just waiting for the signing by the heads of both states," Bessent said.
The agreement has undergone internal approval in Ukraine, including authorization by the governing board and the Minister of Economy. The final step is the official signing by the Presidents of the US and Ukraine.
The details of the deal remain undisclosed, but sources suggest that it involves the development of lithium, titanium, and rare earth metal deposits, which are crucial for the technology and defense industries.
For the US, the agreement represents a significant step toward reducing dependence on China, which dominates the global rare earth element market.
In Ukraine, the agreement has sparked mixed reactions. Supporters view it as an opportunity to attract investment and develop the mining industry, while critics fear that Ukraine could lose control over its strategic resources.
The next step is the high-level signing of the treaty. If completed, this deal will become one of the largest in Ukraine’s history in the field of mineral extraction.
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