Ukraine has significant wealth in strategic mineral and natural reserves: about 5% of world reserves. According to data from the Ukraine Geological Service in 2024, the country housed 7% of world manganese reserves, 6% graphite, 3% iron, between 2% and 4% uranium, between 1% and 2% lithium, and 1% titanium.
This week, Ukraine and the United States reached an agreement for the joint exploitation of these natural resources. This agreement is part of a broader strategy in the United States to reduce China’s global dependence on the supply of rare earth and other critical minerals. Ukraine, with its vast reserves of minerals such as titanium, lithium and graphite, is presented as a strategic partner in this effort to diversify the sources of supply of essential raw materials for technological and defense industries.
The collaboration between Ukraine and the United States in the exploitation of strategic mineral resources represents an opportunity for both countries. For Ukraine, it offers a way to revitalize its economy and strengthen its position in the global raw materials market. For the United States, it is an opportunity to ensure alternative sources of critical minerals and reduce the influence of competitors such as China in this strategic sector. However, this agreement has raised debates and criticism.
While Ukraine resources are valuable, many experts qualify “exaggerated” reserves volume, and ensure that “complicated bureaucracy and corruption have limited investment.” In addition, information about some reservations is classified as a state secret, such as uranium, lithium and titanium, so the data is not clear. On the other hand, many reservations are difficult to access or not very profitable.