The Ukrainian president has confirmed that discussions took place.
Washington/Kyiv: Russia’s war against Ukraine is set to enter its fourth year this month. In this three-year-long conflict, Russia has seized about 70% of Ukraine’s land, which is home to approximately 26 trillion dollars’ worth of rare mineral wealth. This has given Russian President Vladimir Putin a powerful advantage in the context of the war. In this situation, Donald Trump is advocating for an agreement to secure Ukraine’s rare treasures, ensuring that Kyiv continues to receive ongoing American support to advance its fight against Russia.
Ukrainian President Volodymyr Zelenskyy has responded positively to President Trump’s proposal. The American President emphasized the need for ‘equality,’ citing the 300 billion dollars in aid being provided to Ukraine.
“Ukraine has rare mineral wealth, and we’re trying to make a deal where Ukraine gets what we’re giving them with their rare earth and other things,” Trump said. However, Trump has not yet disclosed what America wants in return. “We’re going to stop that ridiculous war,” Trump said. After Trump’s statement, Zelensky has indicated ‘openness’ to the investment of allies, so that his fight against Russia will continue strongly.
The Ukrainian president has confirmed that discussions regarding rare minerals began several months ago. He revealed, “I discussed this during my meeting with President Trump in September.” Interestingly, Ukrainian media had previously disclosed that the idea of negotiating rare treasures was proposed by Ukraine to ensure a continuous supply of weapons from America for ongoing fighting. Reports even suggest that Zelensky deliberately kept the mineral deal hanging with former President Joe Biden to facilitate negotiations with the Trump administration. However, the problem is that Russia has seized over 70 percent of Ukraine’s mineral resources. Donetsk, Dnipropetrovsk, and Luhansk are Ukrainian regions where various rare minerals are hidden in the ground. But Russia has taken control of all these areas.
Now questions are arising as to what is there under the soil of Ukraine, which has caught the attention of global powers. Ukraine is believed to have a giant gold mine beneath its soil, making the country a potential force in the global raw material market. In addition, there are reports of giant minerals and rare mineral wealth under the earth in Ukraine, which can be used to make batteries.
At the same time, the mineral wealth used for electronic components and modern technology is also hidden here. These mineral assets are important for electronic products, transportation, power generation, defence and petroleum refining.
There is a possibility of 20 different precious minerals and metals being present beneath the soil of Ukraine, which accounts for about 5 percent of the world’s total supply. Additionally, these mineral resources make Ukraine one of the top 10 mineral supplying countries in the world. These include rare earth metals such as titanium, lithium, beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite, and nickel.
Ukraine is a leader in titanium reserves in Europe and ranks among the top 10 countries globally, producing 7% of the world’s supply. Furthermore, Ukraine also produces zirconium. The main titanium-bearing minerals are ilmenite and rutile. Additionally, there is a possibility of 3 percent of the world’s lithium being present in the soil of Ukraine.
In the past three years of conflict, Russia has captured up to 70% of Ukraine’s mineral resources, with the majority located in the Donetsk, Dnipropetrovsk, and Luhansk regions. According to a report by Forbes Ukraine, the value of these resources is estimated to be over 15 trillion dollars. Meanwhile, a recent report by The Moscow Times stated that Ukraine’s total mineral resources amount to 111 billion tons, valued at around 14.8 trillion dollars, primarily consisting of coal and iron ore.
However, more than 70% of these resources are located in the Donetsk and Luhansk regions, which are now completely under Russian control. Additionally, Russia controls most parts of Dnipropetrovsk, and Russian forces are increasing in the remaining areas. A 2022 report by The Washington Post stated that the value of Ukraine’s mineral reserves is estimated to be very high, around 26 trillion dollars, of which nearly half is now in areas under Russian control.