The Cabinet of Ministers of Ukraine has approved a resolution that updates the classification of mineral resources and reserves in the state subsoil fund. The changes align the national system of accounting and reporting of reserves with the UN Framework Classification, which is widely used in European Union countries. This approach is mandatory for evaluating strategic projects in accordance with the EU Regulation on Critical Raw Materials (Critical Raw Materials Act).
This is reported by Business • Media
Compliance with International Standards and New Opportunities for Investors
The updated classification creates favorable conditions for reassessing strategic and critical raw materials according to European standards, which are understandable for potential investors. This allows the state to organize auctions more effectively and prepare assets for production sharing agreements. At the same time, the government’s decision supports Ukraine’s fulfillment of international obligations, particularly within the framework of the National Program for the Development of the Mineral Resource Base, the Plan for the Management of Critical Materials, and the Agreement between the Governments of Ukraine and the USA on the establishment of the American-Ukrainian Investment Fund for Reconstruction.
“The decision will: make the industry more transparent and understandable for investors, enhance the competitiveness of Ukrainian raw materials in the global market, and open new opportunities for business and economic development,” commented Prime Minister Yulia Svyrydenko on the event.
Auctions for Special Permits and Preparation for Cooperation with the USA
In October 2025, Yulia Svyrydenko plans to hold a series of meetings in the United States regarding the prospects of mineral extraction in Ukraine under the bilateral agreement on subsoil. In addition, the government has already redistributed 14.68 million hryvnias from the state budget for the preparation of investment projects being implemented according to agreements between Ukraine and the USA.
The State Service of Geology and Subsoil of Ukraine has announced the holding of the tenth auctions in 2025, where 11 subsoil plots with deposits of limestone, clay, sand, amber, loose sedimentary rocks of sandy-gravel composition, and underground mineral waters will be offered. The total starting price of the lots is 51.4 million hryvnias. The bidding is scheduled for October 15 of this year.