Ukraine's PM confirms Kyiv is awarding one of its largest lithium deposits to Trump-linked investors
Ukraine's Prime Minister Yuliia Svyrydenko has confirmed that a consortium led by TechMet and The Rock Holdings has won the tender to develop mineral resources in Kirovohrad Oblast.
Source: Svyrydenko on Telegram
Quote: "The deposit will make it possible to attract a minimum amount of capital investment of US$179 million, of which US$12 million will be allocated for new geological exploration and an international audit of reserves, and US$167 million for organising extraction and processing if industrial reserves are confirmed."
Details: Svyrydenko added that Ukrainian and foreign companies and consortia were invited to participate in the selection process, which was conducted under a 100-point evaluation system.
The Dobra Lithium Holdings JV, LLC, whose shareholders are TechMet and The Rock Holdings, won the tender.
"The Dobra site is only the first step in an ambitious plan to integrate Ukraine into the supply chains of our strategic partners", Svyrydenko noted.
Background:
- The New York Times reported earlier that the winning consortium is closely linked to the administration of US President Donald Trump.
- It includes Ronald Lauder, the heir to the Estée Lauder cosmetics company. Lauder is a friend of Trump. They have known each other since their college days. In addition, Lauder has been a donor to the Republican Party.
- The largest shareholder in TechMet is the US International Development Finance Corporation (DFC), which was set up by Trump during his first term in the White House.
- On 30 April 2025, Ukraine and the United States signed a minerals deal envisaging the establishment of a joint Ukrainian-American investment fund to manage Ukraine's resources.
- In September, US representatives were shown in Ukraine the first deposits that could become the initial projects for the Ukraine Recovery Investment Fund. Representatives of the DFC visited Kirovohrad Oblast at the time.
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