Ukraine awards one of its biggest lithium deposits to Trump-linked investors – NYT
Ukraine has selected a consortium led by TechMet, an energy company co-owned by a US government investment agency established during Donald Trump's first term, as the winner of a tender for a production-sharing agreement covering a lithium site in Kirovohrad Oblast in central Ukraine.
Source: The New York Times, citing two members of a Ukrainian government commission that made the decision
Details: The site, known as the Dobra lithium field, is one of Ukraine's largest reserves of lithium, which is a key component in technologies such as electric batteries.
Quote: "While [the decision] requires formal approval from Ukraine's cabinet of ministers [Ukrainian government – ed.], the officials said the deal was essentially sealed."
More details: The winning consortium reportedly has close links to US President Donald Trump's administration. Its members include Ronald S. Lauder, heir to cosmetics company Estée Lauder. The New York Times states that Lauder is a friend of Trump's, having known each other since their college days. The newspaper also describes him as a donor to the Republican Party.
TechMet's largest shareholder is the US International Development Finance Corporation (DFC), a US government agency.
Tender terms require a minimum investment of US$179 million, but a commission member who took part in the vote on 8 January says the consortium's offer is significantly higher.
Background:
- On 30 April 2025, Ukraine and the US signed a minerals deal envisaging the establishment of a joint Ukrainian-American investment fund to manage Ukraine's resources.
- In September 2025, delegates from the United States were shown the first deposits in Ukraine that could become starter projects for the Ukraine Reconstruction Investment Fund. At the time, the DFC representatives visited Kirovohrad Oblast.
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