Posts published in “Mining”

In the final six months of President Joe Biden’s administration, the United States and Ukraine began discussions focused on rare earth materials, according to former US Secretary of State Anthony Blinken. Speaking in an interview with CNBC, Blinken said that the talks were part of President Volodymyr Zelenskyy’s broader victory plan, which outlined long term cooperation with Washington.

Blinken revealed that the Biden administration had been seeking to increase investment in Ukraine’s rare earth sector. These materials are critical for producing high technology items, including electronics, defence equipment and clean energy systems. He said such cooperation would not only support Ukraine’s economy, but would also offer long term benefits for American industry.

The United States aimed to help Ukraine tap into its vast mineral reserves while also reinforcing strategic ties. Blinken described this effort as mutually beneficial and said it had the potential to grow into a strong industrial partnership.

He strongly criticised the approach taken by the administration of Donald Trump, which later offered Ukraine a deal described as “protection without protection.” Blinken said that the Trump proposal involved America demanding access to Ukraine’s valuable subsoil assets without providing meaningful guarantees of defence support against Russian aggression.

In response, Ukrainian Prime Minister Denys Shmyhal confirmed that talks on mineral agreements are still ongoing. However, he made it clear that Ukraine has firm red lines it will not cross in the negotiations, particularly when it comes to sovereignty and national interests.

Meanwhile, President Zelenskyy has instructed the Security Service of Ukraine (SBU) to investigate the leak of a draft agreement related to mineral resources. The investigation was launched following reports published by the Financial Times earlier this month.

The table below highlights the key points raised in the ongoing cooperation and dispute: