Ukranian government to attract US$10 billion in development of domestic minerals’ resource base

Myzhievsky gold mine. Photo: Zakarpatskay OGA

The Ukranian government plans to attract more than US$10 billion of investments in the development of domestic minerals’ resource base within the next several years.

 

For this purpose, some of the country’s largest fields of lithium, titanium, uranium, nickel, cobalt, etc. will soon be put up for auctions.

 

As part of these plans, a particular attention will be paid for the development of lithium fields within the territory of the country.

 

In fact, Ukraine has one of Europe’s largest lithium reserves, however in recent years their development has been suspended.

 

According to some official data, the country’s nickel reserves are estimated at 215,000 tonnes, while cobalt – 8,800 tonnes, chromium oxide – 453,000 tons, while copper – 95,000 tonnes.

 

At the same time, there is also the ever growing interest of investors for the development of the country’s REE fields.

 

By: Eugen Gerden

 

In regard to gold mines, a particular attention will be paid for the development of Muzhiyevskoye field, which is one of the largest gold mines in Ukraine.

 

In regard to REE fields, the beginning of their massive development has a particular importance for Ukraine, taking into account the recently announced plans of some foreign investors to build a large-scale factory for production of electric vehicles in the Zhytomyr region, that will use lithium and other rare metals in its operations.