August 31, 2025
Ukraine is inviting bids to develop a significant lithium deposit in the Kirovohrad region, as part of a minerals agreement with the United States. This announcement comes despite an ongoing legal dispute over the project's ownership. Prime Minister Yulia Svyrydenko confirmed the tender for the Dobra site last week, highlighting Ukraine's plans to explore its underutilized natural resources. The Ukrainian Geological Survey reports that the country's critical minerals make up about 5% of the global total, with lithium being a major component. Ukraine holds about a third of Europe's lithium reserves, a key element in battery production. While lithium is mined in places like Australia and South America, China leads in global processing. Western nations, including the US, aim to reduce dependency on China for critical minerals, a move supported by President Donald Trump's recent tariffs on various metals. The Dobra tender marks the first step in a minerals cooperation agreement signed in April between Kyiv and Washington, central to the Trump administration's approach to Ukraine. Under this deal, US companies will have preferential access to mining projects, with profits reinvested locally. A US delegation is expected to visit Ukraine in September to determine which companies will benefit from the initial investments.
A potential conflict looms with American companies. Critical Metals, listed on Nasdaq, claims rights to Dobra through its major shareholder, European Lithium. Mykhailo Zhernov, a board member of both companies, stated in July that the Dobra license was initially set to be issued to Petro Consulting, acquired by European Lithium in 2024. Despite a court ruling for the government to issue the license, it was never formally granted. Zhernov insists, "It is our license, it is our rights." However, neither company provided documentation of the license or ruling. TechMet, a mining investment firm with significant US government backing, also expressed interest in the lithium asset. CEO Brian Menell confirmed plans to bid when the tender opens, having evaluated the project since 2023. PM Svyrydenko emphasized the need for an investor who will ensure both extraction and value-added development.
The Dobra site is said to contain substantial lithium reserves, a strategic mineral for energy and technology. Ukraine's economy ministry stated that the tender winner would sign a 50-year agreement and invest at least $179 million, covering geological exploration and production launch.
