US President Donald Trump announced on Thursday that the US would be finalising an agreement with Ukraine regarding access to its rare earth minerals.
During his White House speech, Trump confirmed signing a directive to “dramatically increase” US production of critical minerals and indicated an imminent agreement with Ukraine.
“We’re also signing agreements in various locations to unlock rare earths and minerals and lots of other things all over the world, but in particular Ukraine,” he said. Confirming the intention to sign the deal, trump added, “One of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine, which they have tremendous value in rare earths, and we appreciate that.”
Trump has been urging his Ukrainian counterpart Volodymyr Zelenskyy to establish economic agreements to balance American support in Ukraine’s defence against Russian invasion.
He specifically targeted Ukraine’s mineral resources. The country possesses five percent of global mineral deposits, including iron, manganese, titanium, lithium and uranium.
Although Ukraine has deposits of “rare earths”, which comprise 17 specific metals within the broader critical minerals category, none are currently under commercial extraction, as reported by AFP .
Last month, Zelenskyy refused to approve an agreement allowing US mining companies access to mineral developments, citing inadequate protection against continued Russian military actions. Nevertheless, Trump has maintained his advocacy for a temporary cessation of hostilities.
The proposed critical mineral deal between the US and Ukraine aims to grant the US access to Ukraine’s vast reserves of essential minerals like titanium and lithium, crucial for industries such as artificial intelligence, defense, and clean energy. Under the agreement, Ukraine would contribute 50% of revenues from newly developed mineral assets, oil, and natural gas into a joint investment fund to attract private sector investment and aid in Ukraine’s reconstruction.
The deal collapsed during a February meeting at the White House after tensions flared between Trump and Zelenskyy. Trump pressured Zelenskyy to secure US access to these resources in exchange for continued military aid, while Zelenskyy pushed for explicit security guarantees—something the deal did not provide. A heated exchange in the Oval Office led to Zelenskyy’s early departure without signing the agreement, cancelling the planned press conference and signing ceremony. The breakdown underscored Trump’s prioritization of resource access over unconditional support, straining US-Ukraine relations amid the ongoing war with Russia.
Read more: How Trump-Vance-Zelenskyy dispute led to the collapse of a critical mineral deal
