Ukraine Critical Minerals
Facts checked against sources on . How we check facts.
Ukraine's mineral policy since April 2025 is built around an agreement with the United States that created a joint Reconstruction Investment Fund. On 5 October 2026 Reuters reported that the fund signed its first critical minerals deal, about $30 million into a joint investment platform with BGV Group focused on early-stage projects targeting rare earths, uranium, beryllium and zirconium, taking the fund's projects to about $70 million. In January 2026 the Dobra lithium deposit was chosen for a pilot project, and the European Commission recognised the Balakhivka graphite deposit as a strategic project outside the EU in June 2025. USGS records 52,000 kt of Ukrainian iron ore in 2025 and says Ukraine most likely stopped primary gallium production in 2022.
$30 million
first critical minerals deal of the US-Ukraine Reconstruction Investment Fund, a platform with BGV Group
$70 million
approximate total of the fund's projects after the October 2026 approvals
52,000 kt
of iron ore produced in Ukraine in 2025, about 2% of the world total
2022
year Ukraine most likely ceased primary gallium production, according to USGS
What is the US-Ukraine minerals arrangement?
The arrangement is real and is starting to produce transactions, but the totals are small so far. The table gives each step with its source.
| Step | What happened | Date | Source |
|---|---|---|---|
| Minerals agreement | Signed in Washington to develop Ukrainian minerals jointly and create a Reconstruction Investment Fund staffed 50:50; a German trade source reports ratification by the Verkhovna Rada on 8 May 2025 | 30 April 2025 | GTAI |
| First fund transactions | Reuters reported that the fund signed its first critical minerals deal, about $30 million for a platform with BGV Group, and approved four other projects, including energy ones; its projects total about $70 million | 5 October 2026 | Reuters via Kitco |
| Dobra lithium pilot | The Dobra deposit in Kirovohrad region was selected for a pilot project in January 2026 under a production-sharing agreement, with formal Cabinet approval still to be confirmed in the sources found | January 2026 | Baker McKenzie |
| EU strategic project | The Balakhivka graphite deposit, promoted by Pobuzhzhya's Development LLC, is one of 13 projects outside the EU recognised by the Commission | 4 June 2025 | Commission annex |
The Dobra ownership is reported differently by different sources and is not given here. A recognition by the Commission is a status, not production.
What does Ukraine produce, according to USGS?
USGS names Ukraine in its tables mainly for iron ore, with small amounts of graphite. The listed minerals are a fraction of the deposits Ukraine says it holds.
| Mineral | 2025 production (USGS estimate) | Share of world | Rank | Reserves (share of world) |
|---|---|---|---|---|
| Iron ore | 52,000 kt of usable ore | 2% | 9 of 17 | not reported |
| Natural graphite | 800 t | <0.1% | 13 of 19 | not reported |
Source: USGS Mineral Commodity Summaries 2026 chapters. Shares are calculated by this site from the USGS country figure and the larger of the USGS world total and the sum of the country figures, because USGS rounds the world total. Units differ by row. Rank is among the countries named in each USGS table. USGS marks some Ukrainian reserve figures as not available.
Which of its projects has the European Commission recognised?
| Project | Stage | Promoter | Materials |
|---|---|---|---|
| Balakhivka Graphite Deposit | Extraction | Pobuzhzhya's Development LLC | Graphite |
The Commission recognises these projects outside the EU for faster permitting and coordinated support. A recognition is a status, not production.
How has the war affected mineral supply?
The war has limited both production and data. USGS says rare gas supply from Russia and Ukraine remained limited because of the conflict, and that Ukraine most likely ceased primary gallium production in 2022. Official reserve and production data for Ukraine are therefore thin, which is one reason the US fund's early projects are exploration platforms rather than producing mines. The sanctions page covers trade restrictions linked to the conflict.
What does Ukraine offer to European supply?
Ukraine offers projects rather than output. The Commission's recognition of Balakhivka graphite, the Dobra lithium pilot and the BGV platform are all early-stage, and no Ukrainian project in the sources used reports commercial production of a critical mineral. The strategic projects page explains the Commission's regime and the graphite page covers the market.
Frequently asked questions
What is the US-Ukraine minerals agreement?
It is an agreement signed on 30 April 2025 to develop Ukrainian minerals jointly and create a Reconstruction Investment Fund staffed equally by the United States and Ukraine.
Has the fund made any critical minerals investments?
Yes. Reuters reported on 5 October 2026 that the fund signed its first critical minerals deal, about $30 million for a platform with BGV Group focused on early-stage mining projects, and that the fund's projects total about $70 million.
What is the Dobra lithium project?
Dobra is a lithium deposit in Kirovohrad region that was selected in January 2026 for a pilot project under a production-sharing agreement. The sources found did not confirm that formal Cabinet approval or an investment had closed.
Does Ukraine produce critical minerals today?
USGS records Ukraine mainly for iron ore, with small graphite production, and says it most likely stopped primary gallium production in 2022. The deposits it highlights are in development.
Sources
Read on October 13, 2026. Figures on this page come from these documents; where a number is an estimate, the source says so.
- Reuters via Kitco: US-Ukrainian investment fund seals first critical minerals deal (5 October 2026). Press report
- GTAI: Rohstoffabkommen mit den USA (German trade source on the April 2025 agreement). Single source for the ratification date
- Baker McKenzie: Dobra Lithium Holdings JV, production sharing agreement tender (January 2026)
- Commission Decision C(2025) 3491, annex (4 June 2025)
- USGS Mineral Commodity Summaries 2026: Gallium
- USGS Mineral Commodity Summaries 2026: Iron ore
- Commission Decision C(2025) 3491, annex (4 June 2025)
