U.S. President Donald Trump announced on Monday that he wants Ukraine to supply the United States with rare earth minerals as compensation for financial aid provided to support Ukraine’s war efforts against Russia.
Speaking to reporters at the White House, Trump stated that Ukraine was open to the idea, emphasizing the need for “equalization” in return for Washington’s nearly $300 billion in assistance.
“We’re telling Ukraine they have very valuable rare earths,” Trump said. “We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earths and other things.” However, it remains unclear whether Trump was using “rare earths” to refer specifically to rare earth elements or to a broader category of critical minerals.
Rare earths are a group of 17 metals essential for electric vehicles (EVs), cellphones, and other electronics due to their role in power conversion. The U.S. Geological Survey classifies 50 minerals as critical to the nation’s economy and national security, including rare earth elements, nickel, and lithium.
While Ukraine possesses significant deposits of uranium, lithium, and titanium, none rank among the world’s top fivein volume. The United States also has untapped reserves of these and other critical minerals.
Currently, the U.S. has only one active rare earths mine and limited processing capacity, although several companies are working on domestic projects. Meanwhile, China remains the world’s largest producer of rare earths and other critical minerals.
