Геологическая служба рассчитывает инвестировать $10 млрд в добычу ключевых стратегических полезных ископаемых в Украине

The State Service of Geology and Mineral Resources of Ukraine and the Ukraine Investment Promotion Office expect that about $10 billion will be invested in the development of key and strategic minerals, especially lithium, titanium, uranium, nickel, cobalt, niobium, and other minerals.

Fig.

These plans were announced at the "Minerals of the Future" press conference held on Tuesday by the head of the State Service of Geology and Mineral Resources of Ukraine, Roman Opimakh, and the executive director of Invest Ukraine, Serhiy Tsivkach, during the presentation of Ukraine's investment potential.

Fig.

At the press conference, 30 investment targets were presented—regions with non-ferrous metals, rare earth metals, and other minerals.

Fig.

According to the speaker, existing resources and prospects for future mineral development will allow Ukraine to develop new modern industries. At the same time, the State Service of Geology and Mineral Resources intends to attract investors for the development of such minerals through public commodity auctions. The Ukrainian investment company (UkraineInvest), which works to attract foreign investments into Ukraine's economy, will include these lots in the Ukraine Investment Guide and provide necessary support at all stages of attracting investors.

Fig.

In his speech, Opimakh said: "According to our estimates, their full development will attract more than $10 billion in investments to Ukraine."

Fig.

The first category is represented by regions with lithium deposits. Ukraine has one of the largest proven reserves and predicted lithium resources in Europe. Lithium is used for manufacturing batteries for cell phones, computers, and electric vehicles, as well as special glass and ceramics.

Fig.

There are 2 proven deposits and 2 proven lithium zones, as well as some ores where lithium mineralization has occurred. Lithium is not mined in Ukraine. One site is licensed, and only three sites are available for auction. Additionally, two sites are under legal proceedings.

Fig.

Titanium will also be auctioned. Ukraine is among the top ten countries in the world in terms of proven titanium reserves, with more than 6% of global titanium production. There are 27 registered deposits and over 30 deposits of varying degrees of exploration. Currently, only alluvial sands, which account for about 10% of all explored reserves, are being developed. Seven land plots are planned to be sold at auction.

Fig.

Non-ferrous metals are available in large quantities in the form of nickel, cobalt, chromium, copper, and molybdenum. Ukraine has large deposits of non-ferrous metals and imports them in significant quantities to meet its own needs. Explored deposits and ores are complexly distributed and mainly concentrated in the Ukrainian Shield. At the same time, mining reserves are: 215 thousand tons of nickel, 8,800 tons of cobalt, 453 thousand tons of chromium oxide, 312 thousand tons of expected chromium oxide, and 95 thousand tons of copper.

Fig.

"We are offering six commodities, one of which will be auctioned on March 12, 2021," said the director of the National Agency of Geology and Mineral Resources.

Fig.

Rare earths and rare metals—tantalum, niobium, beryllium, zirconium, scandium—will also be auctioned. Rare and rare earth metals are found in complex deposits and ores within Ukraine's Geoshield. Zirconium and scandium are largely concentrated in alluvial and primary deposits, which are not mined. Tantalum oxide (Ta2O5), niobium, and beryllium reserves are found in six deposits, two of which are under development. One of these sites is planned to be auctioned on February 15, and a total of three areas will be auctioned.

Fig.

As for gold deposits, seven deposits have been registered, five licenses have been issued, and mining operations are still ongoing at the Muzhievo deposit. One area was sold at auction in December 2020, and the remaining three are planned to be auctioned.

Fig.

New areas for fossil fuel extraction will also be auctioned (one of the auctions will take place on April 21, 2021, and two others are in preparation). The investment map includes two sites containing uranium ore, but reserves have not been specified.

Fig.

Opimakh said that these mineral extraction projects will be implemented over at least five years because they are long-term projects: "These are capital-intensive projects with long implementation cycles."