Ukraine, U.S. have signed a critical minerals deal. What we know so far

Ukraine and the U.S. signed a deal on Wednesday that would give the United States preferential access to new Ukrainian minerals deals.

Ukraine and the United States on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine’s reconstruction.

The following is an overview of the critical minerals, including rare earths, and other natural resources in Ukraine:

Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cell phones, missile systems, and other electronics. There are no viable substitutes.

The U.S. Geological Survey considers 50 minerals to be critical, including rare earths, nickel and lithium.

Critical minerals are essential for industries such as defense, high-tech appliances, aerospace and green energy.

Ukraine has deposits of 22 of the 34 minerals identified by the European Union as critical, according to Ukrainian data. They include industrial and construction materials, ferro alloy, precious and non-ferrous metals, and some rare earth elements.

According to Ukraine’s Institute of Geology, the country possesses rare earths such as lanthanum and cerium, used in TVs and lighting; neodymium, used in wind turbines and EV batteries; and erbium and yttrium, whose applications range from nuclear power to lasers. EU-funded research also indicates that Ukraine has scandium reserves. Detailed data is classified.

The World Economic Forum has said Ukraine is also a key potential supplier of lithium, beryllium, manganese, gallium, zirconium, graphite, apatite, fluorite and nickel.