Critical minerals in Ukraine: a treasure in the crosshairs of Trump, Putin and the European Union

Western powers are showing interest in Ukrainian raw materials, which are essential for the ecological transition and the technology sector. However, Russia’s occupation of the territory and China’s dominance in refinement may be obstacles to the use of these resources in the short term.

The recent discussions on the reserves of critical and strategic minerals in Ukraine are yet another example of the fundamental role that these raw materials play on the chessboard of world geopolitics. After facing disruptions in their supply chains in recent years, Western powers are seeking to secure their sources of rare earths, lithium, nickel, cobalt and other essential minerals for the manufacture of products related to the energy transition and the technology sector. In this context, the European Union will compete with the United States to take advantage of Ukrainian resources. The objective is to reduce dependence on China, which controls both the exploitation and the refinement of these materials in the international market. Recently, both Washington and Brussels expressed their intentions to develop critical mineral extraction projects in Ukraine after peace is achieved with Russia. Regardless of how these potential deals are consolidated, the reserves promise to be of crucial importance to the Old Continent, due to its geographical proximity to the region’s industrial giants.

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