PM: Ukraine is ready to set up joint ventures in uranium, lithium, titanium mining

Ukraine has proposed joint extraction of rare earth metals - uranium, lithium and titanium - to the European Union (EU), Prime Minister of Ukraine Denys Shmyhal said in an interview with Politico.

According to the prime minister, by agreeing to Ukraine’s accession, EU countries wouldn’t just be expanding their own borders and boundaries: "They would be gaining reliable defenders with extensive military experience, ready to be the first to take a hit not only from Russia, but from other possible military and political groups on Europe’s eastern borders."

"Ukraine’s subsoil contains 22 out of the 30 minerals listed as critical for the EU. It ranks first in Europe in terms of uranium ore reserves, having the ability to meet its own energy needs as well as export uranium — especially as demand for nuclear power in Europe is on the rise," Shmyhal said.

He noted that Ukraine also has the largest lithium reserves in Europe, and its use in the world is only growing: "While 460,000 metric tons of lithium carbonate were consumed in 2021, global demand is projected to reach 6 million metric tons by 2030. We are ready to set up joint ventures in this area, which would undoubtedly lead to a strategic advantage for the EU. Moreover, Ukraine is among the top 10 countries with proven titanium ore reserves, and only 10 percent of these proven reserves are currently being developed. We could replace Russian titanium on the European market, contributing to the development of both the EU’s civilian industry and advanced military technologies."