The Cabinet of Ministers of Ukraine has approved a list of critical and strategic minerals, as well as identified over 80 subsoil areas that will soon be put up for auctions and competitions. This is part of the implementation of the Ukrainian-American “mineral agreement,” aimed at developing the mining sector and attracting investments.
This is reported by Finway
Expansion of the List of Strategic Minerals
Among the strategic minerals included in the approved list are aluminum, beryllium, copper, nickel, niobium, strontium, tantalum, titanium, uranium, zirconium, and fluorite ores. In total, the list of critical materials has been expanded to 28 types of minerals.
According to the government decision, more than 80 subsoil areas will be put up for bidding. Specifically, 60 of them will be offered through electronic auctions, while another 26 will be through competitions based on production-sharing agreements. This will create new opportunities for attracting international investors and increasing budget revenues.
“The approved document is the foundation for launching the Ukrainian market for strategic and critical raw materials, and consequently for filling the American-Ukrainian investment fund,” said Minister of Ecology Svitlana Hrynchuk.
Search for an Administrator for the Investment Fund
In parallel with preparations for the auctions, the U.S. International Development Finance Corporation (DFC) has announced a Request for Information to identify a company to administer the American-Ukrainian Reconstruction Investment Fund. This is the first step in the process of selecting a qualified partner to provide administrative services for the fund. The publication of the request does not signify the start of an official tender, and the final decision on the selection of the administrator will be made by the Fund’s Governing Council, which will include three representatives from Ukraine and three from the U.S.