KYIV (Reuters) -Ukraine has launched a tender for the right to mine a lithium deposit site in its central Kirovohrad region, Prime Minister Yulia Svyrydenko said on Wednesday.
The tender for the “Dobra” site is expected to be the first project in a joint investment fund with the United States that was inked in April as part of Kyiv’s efforts to keep Washington onside in its war against invading Russian forces.
The deal, heavily promoted by U.S. President Donald Trump, gives the U.S. preferential access to new Ukrainian minerals deals and fund investment in Ukraine’s reconstruction.
“The site contains significant reserves of lithium, which is of strategic importance for energy and technology,” Svyrydenko wrote on the Telegram app.
“We are looking for an investor who will ensure not only extraction, but also the development of value-added production in Ukraine.”
She said an official announcement would be published in the next two months, followed by three months of accepting bids, and then a decision to determine the winner.
Ukraine’s economy ministry said on its website that the winner of the tender would sign a 50-year agreement and commit to investing at least $179 million.
“This amount includes both funding for geological exploration and the launch of production and enrichment,” it said.
“In addition, the agreement provides for compliance with environmental standards, the use of Ukrainian goods and labour, and investment in the development of local communities.”
(Reporting by Yuliia Dysa and Max Hunder. Editing by Toby Chopra and Mark Potter)
