Trump demands rare earth deals in exchange for ukraine aid
On Tuesday, Ukrainian President Volodymyr Zelensky announced that a central element of the Victory Plan in the conflict with Russia includes partner investments in the exploitation of mineral resources in Ukraine. He assured that Ukraine remains open to cooperation in this sector and mentioned that dates for a working visit by a US delegation have already been arranged.
- One of the key economic aspects of the Victory Plan is investment in Ukrainian mineral resources. Russia has been occupying our territories since 2014, and some of these lands contain substantial reserves of our resources. We are open to their exploitation in collaboration with partners who assist us in defending our land and repelling the enemy through their military support, presence, and sanctions," stated Zelensky during a meeting with Rafael Grossi, Director General of the International Atomic Energy Agency.
The President acknowledged that he discussed this matter in September with the then-presidential candidate and current President of the United States, Donald Trump.
- I informed him that we are open to investments from American companies, emphasised Zelensky. He added that if mineral resources were to fall under Russian control, there is a risk that other countries, such as Iran and North Korea, might show interest in them.
Zelensky mentioned that his team is already in touch with President Trump's special envoy for Ukraine and Russia, retired General Keith Kellogg, and National Security Advisor Mike Waltz. The "working dates" for the American delegation's visit have already been set, he added.
- I believe that, at this point, the head of the Office (President Andriy Yermak) has completed discussions with Waltz, and my team was in contact with Kellogg yesterday. (...) We already have confirmed dates for the arrival of the American team. We are now finalising the schedule and the delegation's composition. We are waiting for the team and will collaborate closely - said Zelensky.
During the discussions between Yermak and Waltz, the necessity of organising a personal meeting between the Presidents of Ukraine and the USA in the near future was also addressed.
Donald Trump's ultimatum: military aid for rare earth metals
President Trump suggested on Monday that he wants Ukraine to secure US access to rare earth metals in return for further military aid.
We are telling Ukraine that they have very valuable rare earth metals. We want them to pledge them as collateral. We want guarantees because we are providing them with substantial financial support," said Trump.
Analysts from the Polish Chamber of Ecology noted in their 2023 report that Ukraine possesses significant reserves of industrial minerals, some of the largest in Europe for rare earth metals, along with promising lithium reserves.
It is estimated that the Volyn-Azov Shield may hold 500,000 tons of lithium, often referred to as white gold, due to its critical role in the green transition, particularly in the production of lithium-ion batteries. According to estimates, the value of metal deposits in Ukraine is between 10-12 trillion dollars. Some of these resources are located in areas of Ukraine currently occupied by Russia.
