The value of Ukraine’s mineral resources could reach an impressive $15 trillion, as noted by the Executive Director of the National Association of Mining Industry of Ukraine, Ksenia Orynchak. However, these figures are approximate and depend on a number of factors, including global mineral prices, extraction volumes, and development costs of deposits.
This is reported by Finway
Duration of the Extraction Process
Typically, from the time of initial geological surveys to the start of industrial extraction, it takes between 7 to 20 years, depending on the type of mineral resources. It is also important to consider that the mining industry is extremely capital-intensive.
Ukraine’s Advantages in the International Market
Orynchak pointed out that while Ukraine cannot compete with Russia in terms of mineral reserves, it can offer the United States a number of strategic advantages. The main barriers to the return of American companies to Russia remain the imposed sanctions, which create logistical, legal, and political difficulties, as well as the unpredictability of Russia’s economic policy.
At the same time, Ukraine possesses significant reserves of titanium, lithium, nickel, and rare earth elements—all of which are critically important for the high-tech industry and the defense sector of the United States. The mining sector in Ukraine has the potential for development according to Western standards, as the country remains politically and economically predictable.