U.S. minerals deal could help revitalize Ukraine’s extractive sector — Extractive Industries Association

She shared her opinions with Espreso TV.

“Our foreign partners, including from the U.S., have approached us for consultations to understand how Ukraine’s extractive sector actually works — its strengths, weaknesses, and what we lack. I must point out that our country’s geological segment is so broken that we have to rebuild the extractive industry from scratch,” Orynchak noted.

According to the executive director, companies operating in Ukraine constantly face government-imposed obstacles, while the government itself does little to support the sector.

“We still haven’t launched full-scale private geological exploration, lack sufficient laboratories, and have too few defense-industrial enterprises. So this opportunity to relaunch Ukraine’s extractive sector with the U.S. government gives our country a chance to grow economically, strengthen itself, and defend its territory,” Orynchak emphasized.

Minerals deal: background

On Thursday, March 27, President of Ukraine Volodymyr Zelenskyy said that the United States was offering to sign a full agreement on minerals instead of a framework agreement.

On March 28, the media reported that the administration of U.S. President Donald Trump had returned to the mineral deal a requirement that Ukraine reimburse all the assistance the United States provided after the start of Russia's full-scale invasion in 2022. 

During an hour of questions to the government in the Verkhovna Rada on March 28, Ukraine's Economy Minister Yulia Svyrydenko confirmed that the government had received a draft agreement from the United States on minerals, and Ukraine was formulating its position.

Later, Zelenskyy commented on the new American draft agreement on Ukrainian rare earth minerals and said that it contained things that the parties had previously rejected.

On March 31, U.S. President Donald Trump said that Ukrainian President Volodymyr Zelenskyy wants to back out of a key mineral deal.

On the same day, it became known that Ukraine and the United States discussed the American draft of the minerals deal agreement for the first time.

On April 8, Bloomberg reported that delegations from Ukraine and the United States would discuss a minerals agreement on April 11-12.

On the same day, Ukraine’s Foreign Minister Andrii Sybiha stated that Ukraine had already developed its position on the minerals agreement with the United States and was now assembling a delegation for the talks.