Ukraine is ready to sign the minerals deal with the US as early as April 30, the Kyiv Independent reports citing a source in the President's Office. The report adds that the agreement excludes any provisions related to Ukraine's debt for prior US military or financial assistance, the source said. Earlier, at the Munich Security Conference, Zelenskyy said that he did not permit his ministers to sign a mineral resource agreement with the US because the current version is not “ready to protect us, our interests.”
The Ukraine-US mineral deal is likely to facilitate barter one resource for another, could help strengthen Kyiv’s relationship with the Trump administration.
Notably, Economy Minister Yulia Svyrydenko is currently in Washington for the final coordination of the agreement’s technical details, the sources said.
US eyes Ukraine's titanium deposits
Trump has said that he wants Ukraine’s rare earth elements as a condition of further support in its more than three-year war with Russia.
Ukraine has deposits of titanium, which is used for making aircraft wings and other aerospace manufacturing. It also has lithium, key to several current battery technologies, and uranium, used for nuclear power, medical equipment and weapons. On top of that, it has graphite and manganese, both used in batteries for electric vehicles.
Why was minerals deal stalled previously?
Earlier, Ukrainian President Volodymyr Zelenskyy was expected to sign the mineral deals with the US during his visit to the White House. However, US President Donald Trump and Zelenskyy engaged in a heated verbal exchange at the Oval Office, which also involved the US Vice President JD Vance.
Once signed, the deal will then require ratification in the Ukrainian parliament before it can take effect.
According to one of the Ukrainian officials, multiple documents are involved — including a main agreement and at least two technical accords outlining the structure and operations of the joint fund.
(With inputs from AP)