Kiev says ready to cooperate with EU in uranium, lithium, titanium mining

MOSCOW. Feb 14 (Interfax) - Ukraine stands ready to cooperate with the European Union in mining for uranium, carbonate, lithium and titanium, Ukrainian Prime Minister Denis Shmygal said.

"Ukraine's subsoil contains 22 out of the 30 minerals listed as critical for the EU. It ranks first in Europe in terms of uranium reserves, having the ability to meet its own energy needs as well as export uranium - especially as demand for nuclear power in Europe is on the rise," Ukrainian media quoted Shmygal as saying in an article for the Politico media outlet.

According to Shmygal, Ukraine also has the largest lithium reserves in Europe.

"While 460,000 metric tonnes of lithium carbonate were consumed in 2021, global demand is projected to reach 6 million metric tonnes by 2030. We are ready to set up joint ventures in this area, which would undoubtedly lead to a strategic advantage for the EU," he said.

According to the prime minister, Ukraine is also among the world's leaders in terms of proven titanium ore reserves.

"Only 10% of these proven reserves are currently being developed," he said.

U.S. President Donald Trump said earlier that Washington would like to conclude a deal with Ukraine for $500 billion in rare earth metals, oil and gas to secure the financial and military aid provided by Washington to Kiev.

U.S. Secretary of the Treasury Scott Bessent passed the respective draft agreement to Ukrainian President Vladimir Zelensky at their meeting in Kiev a few says ago.