Ukraine Ilmenite Arms-for-Minerals Deal
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critical minerals industryABC News
•Business
Business & Economics
In Ukraine, a potential arms-for-minerals deal inspires hope and skepticism
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78% Informative
In Ukraine , a potential arms-for-minerals deal inspires hope and skepticism.
Ukraine boasts vast reserves of ilmenite, a key element used to produce titanium.
Much of Ukraine ’s critical minerals industry is underdeveloped because of war as well as onerous state policies.
Many unknowns stand in the way of turning these riches into profit: cost, licensing terms and security guarantees.
Under the Soviet system, geologists stood to gain if they claimed to have found large reserves.
The deal also does not factor in the position of Ukrainian people themselves.
According to the Constitution , the subsoil where extraction would take place belongs to Ukraine .
Some Ukrainian businessmen privately express skepticism about the deal.
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