Why Ukraine's natural resources are the most sought after
Ukraine is endowed with a vast array of natural resources, positioning it as a significant player in global mineral markets.
The nation boasts nearly 8,000 deposits encompassing approximately 90 different minerals, with about 20 being economically significant. Notably, Ukraine holds substantial reserves of coal, iron ore, manganese, titanium, and uranium, among others.
With iron ore reserves estimated at 28 billion tons, Ukraine ranks among the world's top producers, supplying significant quantities to the global market. Additionally, the country possesses around 3 billion tons of manganese ore, essential for steel production.
For titanium, Ukraine is the world's sixth-largest producer of a metal vital for aerospace and other high-tech industries. Significant lithium deposits, such as the Shevchenko deposit in Donetsk Oblast, also position Ukraine as a potential key supplier for the burgeoning electric vehicle market.
This richness is why the US in February 2025 sought to sign a minerals deal which was also central to Kyiv's push to secure Washington's support. The agreement aimed to establish a Reconstruction Investment Fund to harness revenues from Ukraine's mineral wealth, with Ukraine contributing 50% of its resource revenues until it reaches $500 billion.
The agreement, however, 'hit a wall' after a faceoff between Ukraine's President Volodymyr Zelenskyy and US President Donald Trump at the Oval Office on Friday, February 28.
