Ukraine intends to actively cooperate with the European Union in the extraction and supply of strategic resources, including uranium, lithium and titanium. This was stated by Prime Minister of Ukraine Denys Shmyhal in an article for Politico published on 14 February.
“Ukraine has 22 out of 30 minerals critical for the EU. We rank first in Europe in terms of uranium reserves and are able not only to cover our own energy needs but also to export it to the EU, given the growing demand for nuclear energy,” Shmyhal said.
In addition, Ukraine has the largest reserves of lithium, a key element for battery production, in Europe. Global demand for lithium carbonate is forecast to grow from 460,000 tonnes in 2021 to 6 million tonnes in 2030.
“We are ready to create joint ventures that will give the EU a strategic advantage,” the Prime Minister stressed.
Another critical resource is titanium, which is among the largest in the world. According to the prime minister, only 10% of the proven reserves are currently being developed, so Ukraine can completely replace imports of Russian titanium for European industry, including the defence sector.
Shmyhal stressed that rebuilding Ukraine will be a key factor for the economic growth of the entire European continent.
“We are talking about hundreds of billions of euros of investment that will create new production facilities and jobs both in Ukraine and in the EU,” the Prime Minister concluded.
