The Guardian - The lithium deposit is located in central Ukraine’s Kirovohrad region, about 350km (217 miles) south of the capital, Kyiv.... In 2017 a Ukrainian company, UkrLithiumMining, bought a government licence to exploit the site for 20 years. It cost $5m. Geological surveys confirm that the ore, known as petalite, can be used to produce batteries for electric vehicles and mobile phones.
According to the US president, Donald Trump, these underground reserves should now belong to America. Last week, the new US treasury secretary, Scott Bessent, visited Kyiv. He presented Ukraine’s president, Volodymyr Zelenskyy, with a surprise claim to half of Ukraine’s mineral wealth, as well as to its oil, gas, and infrastructure such as ports. The $500bn bill was “payback” for previous US military assistance to Ukraine, the White House explained. More
Zelenskyy refused to sign the agreement. He made it clear Washington had to give security guarantees before any deal could be reached on the country’s vast natural resources, about 5% of global mineral reserves. He also pointed out that the US had given $69.2bn in military aid – less than the sum Trump was now demanding – and added that other partners such as the EU, Canada and the UK might be interested in investing, too.
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