In Ukraine, the winner of the competition for signing a production sharing agreement regarding the use of one of the largest lithium deposits in the country – the ‘Dobra’ site in Kirovohrad region – has been determined. The winner is a consortium led by the Irish company TechMet.
This is reported by Finway
The Key Role of Foreign Investors in the Project
According to members of the competition commission, the consortium includes Ronald Lauder – a well-known American businessman and heir to the Estée Lauder cosmetics empire. Lauder has close ties with U.S. President Donald Trump, with whom he has been acquainted since college, and is also a sponsor of the Republican Party. The largest shareholder of TechMet is the American government agency DFC.
Competition Conditions and Next Steps
According to the tender conditions, investors must ensure a minimum investment of 179 million U.S. dollars. However, as reported by one of the commission members who voted on Thursday, January 8, the winner’s proposal was significantly higher than the established minimum.
The ‘Dobra’ lithium deposit is a strategically important asset for the development of modern technologies, as lithium is used in the production of batteries for electric transport and other electronic devices.
“The decision still requires official approval from the Cabinet of Ministers of Ukraine, while officials have stated that the agreement is effectively concluded.”
Thus, the completion of the agreement signing procedure is expected in the near future after receiving approval from the Ukrainian government.