Ukrainian officials and representatives from the US International Development Finance Corporation have begun site visits to identify investment opportunities under a bilateral minerals deal signed in April, Economy Minister Oleksiy Sobolev confirmed on Saturday.
The agreement, strongly promoted by US President Donald Trump, grants the United States preferential access to new Ukrainian mineral projects in return for investment. Kyiv views the deal as a mechanism to attract US financing for economic recovery and infrastructure rebuilding, while also shoring up continued US defence support amid the ongoing war with Russia.
Sobolev told a conference in Kyiv, attended by Ukrainian, US, and European officials, that the government aimed to identify three pilot investment projects within the next 18 months. “Right now, there are site visits … from the US, and we are going to the regions tomorrow with them to look for an investment pipeline,” he said.
Under the terms of the agreement, half of Ukraine’s revenues from new mineral extraction will be directed into a joint investment fund, with profits shared between Kyiv and Washington. Beyond minerals, the fund is also expected to invest in Ukraine’s energy sector and infrastructure.
Ukraine has reserves of 22 of the 34 minerals deemed critical by the European Union for industries such as defence, green energy, and high-tech manufacturing. These include ferro alloys for steelmaking, non-ferrous metals for construction, as well as rare earths and precious metals.
The initiative underscores Trump’s view that the US should gain direct economic benefits in exchange for its role as Ukraine’s largest military donor since Russia’s full-scale invasion in 2022.
