Ukraine and the United States are preparing to launch site visits to identify investment projects under their newly signed minerals deal, Ukrainian Economy Minister Oleksiy Sobolev confirmed on Saturday. The agreement, signed in April, grants the U.S. preferential access to new mineral projects in exchange for financial investments aimed at strengthening Ukraine’s war-battered economy and infrastructure.
Speaking at a conference in Kyiv, Sobolev said both sides were committed to moving quickly and hoped to select three pilot projects within the next eighteen months. He explained that U.S. officials from the International Development Finance Corporation were already conducting visits with Ukrainian teams to evaluate potential investment opportunities in key regions.
The deal has been described as vital for Ukraine, as it seeks to rebuild its economy while maintaining strong U.S. backing in its ongoing war with Russia. President Donald Trump, who promoted the agreement earlier this year, has repeatedly argued that Washington should gain tangible returns for its financial and military aid to Kyiv.
Under the agreement, half of Ukraine’s revenues from new mineral extraction will be directed into a joint investment fund. The profits from this fund will be shared between Kyiv and Washington, ensuring that both governments benefit from the projects while securing long-term cooperation.
Sobolev also noted that the joint fund would expand beyond the mineral sector, supporting investment in energy and infrastructure. Ukraine possesses 22 out of 34 minerals considered critical by the European Union, including rare earths, ferro alloys, and precious metals essential for defence, green energy, and high-tech industries.