Ukraine hands over major lithium project to investors
Ukraine has selected the winners of the tender for the development of one of the largest state-owned lithium deposits Good field in Kirovohrad region. According to the decision of the government commission, the project was transferred to international investors, including billionaire Ronald Lauder, a close friend of the US president Donald Trump, and the TechMet company, is partially affiliated with the United States government.
The decision is yet to be made formal approval by the Cabinet of Ministers of Ukraine, after which the investors will start implementing a project to extract and process lithium, a critical resource for the production of batteries and electric vehicles.
Details of the deal
- Half of Ukraine's revenues from the field's operation will be directed to a joint investment fund between the US and Ukraine, created to support strategic projects and infrastructure investments.
- Minimum investment in the project constitute $179 million, but representatives of investors promised Kyiv significantly greater financial resources during the initial phases of implementation.
The Dobre deposit project is one of the key projects for Ukraine's energy and technological independence, as lithium is an important raw material for batteries, the mining and metals industry, and the global electric vehicle market.
Context.
Ukraine is strengthening cooperation with foreign partners in the context of strategic competition for technological resources, and lithium development could be an important part of economic recovery and integration into global supply chains. Cooperation with US investment groups also reflects the deepening economic ties between Kyiv and Washington.
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