Ukraine and US plan to launch three mineral extraction projects – Ukrainian PM

Ukrainian Prime Minister Yuliia Svyrydenko has announced that preparations are underway for three joint Ukraine-US projects in mineral extraction. Their implementation is planned to begin within the next 18 months under a bilateral agreement on critical mineral resources.

Source: Svyrydenko on Facebook following talks with US Secretary of the Treasury Scott Bessent

Details: Svyrydenko said the two sides had discussed the establishment of a US-Ukrainian Reconstruction Investment Fund, with the first meeting of its board of directors scheduled for September.

Quote: "We are working on expanding its mandate so that the fund can also invest in the defence sector. The aim is to launch the first three projects within 18 months."

Details: Particular attention was paid to defence cooperation during the talks. This included a potential agreement on the production and export of Ukrainian drones, initiated by President Volodymyr Zelenskyy, and the possible procurement of US weapons.

"We also raised the issue of increasing sanctions pressure and cooperation with international financial institutions," Svyrydenko added.

Background: 

• On 1 May, Ukraine's former economy minister Yuliia Svyrydenko and US Treasury Secretary Scott Bessent signed the minerals deal.
• On 2 May, the Ukrainian government submitted the Kyiv-Washington agreement on the establishment of the Reconstruction Investment Fund to the Verkhovna Rada (Ukrainian Parliament) for ratification.
• On 6 May, the Foreign Policy Committee supported the ratification of the Ukraine-US minerals deal both in principle and in full.
• On 8 May, the Verkhovna Rada ratified the minerals deal.

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