Paris: Ukraine possesses an estimated five percent of the world's mineral resources, making it a highly valuable region for mining. However, much of its wealth remains either untapped or difficult to extract, according to experts. The United States, particularly under former President Donald Trump, has shown a keen interest in securing access to these resources, but significant challenges remain.

Ukraine's Position in Global Mining
Despite its vast reserves, Ukraine ranks 40th among mineral-producing countries when considering all categories, including coal, according to the 2024 edition of World Mining Data. The country was the 10th largest producer of iron in 2022 and is also a major source of manganese and uranium, as identified in a 2023 study by France’s Bureau of Geological and Mining Research (BRGM).

Critical Minerals and Strategic Importance
Many minerals are classified as critical or strategic due to their importance in energy production and modern industries. The United States recognizes about 50 critical minerals, while the European Union identifies over 30.

The European Commission has highlighted Ukraine as a significant global supplier of titanium, and a potential source of over 20 critical raw materials. It ranks eighth in the world for manganese production, 11th for titanium, and 14th for graphite, which is a key component in electric batteries.

Additionally, Ukraine claims to hold one of Europe's largest lithium deposits, though the government acknowledges that lithium extraction has not yet begun.

Rare Earth Elements: Untapped Potential
Rare earth elements (REEs) are a special group of 17 metals essential for high-tech industries, including electronics, wind turbines, and electric vehicles. While Ukraine does have REE deposits, none are currently being mined, according to Elena Safirova of the US Geological Survey.

In 2023, the BRGM reported that Ukraine has significant rare earth resources, but developing them would require massive investment. The Ukrainian government has identified six deposits containing rare earths and estimated that $300 million is needed to develop the Novopoltavske deposit, one of the largest in the world.

Challenges in Extraction
However, there are serious obstacles to extracting rare earths in Ukraine. Some of the minerals identified, such as tantalum, niobium, and beryllium, are not technically classified as rare earths. Furthermore, Ukraine's resource assessments are largely based on Soviet-era studies, which may overestimate their accessibility and economic viability, according to S&P Global Ratings.

Due to low concentrations and difficult extraction conditions, Ukraine's rare earth deposits may not be profitable to mine, making it uncertain whether they will ever be fully exploited.