he inaugural meeting of the American-Ukrainian Reconstruction Investment Fund Steering Committee took place in Kyiv on 3rd September, marking a significant step in attracting private investments into Ukraine’s key industries. The fund was established as a pivotal mechanism to enhance Ukraine’s economic recovery and growth by involving the private sector in rebuilding critical infrastructure and mining sectors.
The meeting, which was attended by representatives from both the Ukrainian and American governments, was chaired by Prime Minister Yulia Sverdenko. The American delegation included Scott Besant, the US Treasury Secretary, Connor Holman, Chief Investment Officer at the US Development Finance Corporation (DFC), and Robert Stebbins, DFC’s Vice President.
During the session, the committee finalised the operational regulations, established specialized subcommittees, and granted powers to open bank accounts, select fund administrators, and appoint investment advisors. The next step is identifying key pilot projects for investment, with discussions scheduled for later this month when DFC representatives visit Kyiv.
Lithium and Gold Reserves in Kirovograd: A Major Mining Contest Launched
One of the most pressing topics to emerge from the meeting was the Ukrainian government’s announcement of a competition to develop the Lithium Deposit of Dobro, located in the Kirovograd region. The project offers a lucrative opportunity for extracting nine strategically significant minerals, including lithium, gold, niobium, and beryllium. The competition is open to both Ukrainian and international firms with experience in natural resource exploitation and adequate financial and technical capabilities. However, companies from aggressor nations and those in sanctioned jurisdictions will not be allowed to participate.
The government is looking to partner with firms willing to invest a minimum of $12 million in geological surveys and a further $160 million in industrial extraction and beneficiation activities. The agreement will be long-term, spanning 50 years, with the state retaining ownership of the resources until they are allocated through the contract.
Ukraine’s Oil and Gas Transparency: The Launch of the National Well Registry
In another landmark move, Ukraine’s State Geological Survey (Derzhgeonadra) has launched the National Oil and Gas Well Registry, a digital platform providing transparent access to over 12,500 well records. This new database will include active, suspended, and monitoring wells, and aims to streamline access to essential geological data for government bodies, natural resource users, and the public. This initiative strengthens Ukraine’s commitment to better resource management and international best practices in natural resource transparency.
Ukraine’s Role in the Global Mineral Economy
Ukraine’s mining sector is attracting attention not only for its rich mineral reserves but also for its growing role in the global economy. The upcoming Mineral Deal Forum, scheduled for 24th September in Kyiv, will bring together government officials, business leaders, and investors to discuss the future of Ukraine’s mining industry and its critical minerals. Key figures from the Ukrainian government, such as Deputy Prime Minister Taras Kachka and Minister of Economy Yegor Perelygin, will speak at the forum, alongside business leaders like Serhiy Pylypenko, the CEO of Kovalska Group, a leading construction firm that has successfully navigated the challenges of wartime operations.
The forum promises to be a key event for understanding how Ukraine plans to integrate its vast natural resources into the global supply chain, particularly for critical minerals required in industries like renewable energy and electronics.
Gold Hits Record Highs: What This Means for Mining Investments
Meanwhile, the global price of gold has reached new heights, with the spot price of an ounce (31.1g) surging to $3,645 per ounce. This sharp increase in value, which has doubled over the last three years, comes amid rising global instability and the possibility of changes in US Federal Reserve policies. Investors are flocking to gold as a safe haven, which could signal further growth for mining industries worldwide, including in Ukraine.