The United States and Ukraine reached a rare earth minerals deal—but how expansive are Ukraine’s mineral deposits?
The United States and Ukraine on April 30 finally signed the minerals deal that was delayed by the now-infamous Oval Office exchange between the U.S. and Ukrainian presidents two months ago.
With China continuing to tighten its grip on critical minerals after the imposition of U.S. tariffs, control of so-called rare earths—essential for the production of many new technologies such as electric vehicles, wind turbines, and smartphones—is becoming ever more important.
Here is what we know about rare earths—and what might be in the ground in Ukraine.
1. Rare Earths, Not so Rare
Kyiv claims that its untapped mineral wealth is of potentially extraordinary worth.
Rare earth elements, a group of 17 essential elements, play a key role in powering modern technology, from electric vehicle motors to missile guidance systems.
These critical elements are found in low concentrations in minerals, and they are difficult to separate from other elements, requiring specialist or even toxic extraction processes. Some of these processes are unavailable to the West because of China’s grip on rare earth element technology.
Moreover, while some of these elements, such as dysprosium, samarium, and praseodymium, are called “rare,” they are not in fact rare in the Earth’s crust and can be found in many places.
China overtook the United States in the 1990s to become the largest rare earth element-producing and -exporting country, and it was in that context that the Ukrainian president offered the United States access to what he claims are Europe’s largest reserves of the critical minerals titanium and uranium.
But there is one caveat. About 20 percent of Ukraine’s mineral resources, including about half its rare earth elements deposits, are in areas under Russian occupation.
And while titanium deposits have been identified in northwestern Ukraine, far from the fighting, Russia knows exactly where Ukraine’s critical resources are as a result of Soviet-era geological surveys.
2. What’s in the Ground in Ukraine?
Authorities in Ukraine say it has minerals. However, no commercial exploration has been conducted.
In a document from the Ukrainian Geological Survey’s critical minerals portfolio, authorities said that rare earth elements have been identified in complex deposits and ore occurrences within the Ukrainian Shield, a large geological formation in Ukraine.
The document said that six deposits contain tantalum, niobium, and beryllium, which are prized in the aerospace industry.
It also said that while lithium is not mined in Ukraine, the country’s lithium reserves account for about one-third of the proven reserves in Europe and approximately 3 percent of global deposits.
By Owen Evans
