The value of Ukraine’s mineral resources, according to the Executive Director of the National Association of Mining Industry, Ksenia Orynchak, could reach $15 trillion. However, these figures are approximate and depend on many factors, such as global mineral prices, extraction volumes, and development costs of deposits.
This is reported by Business • Media
It is noted that the time from initial geological studies to the start of industrial extraction can range from 7 to 20 years, depending on the specific type of mineral. It is also important to consider that the mining industry is extremely capital-intensive.
Strategic Advantages of Ukraine
Orynchak also pointed out that while Ukraine cannot compete with Russia in terms of mineral reserves, it can offer the United States a range of strategic advantages. One of the main obstacles to the return of American companies to Russia is the sanctions imposed, which create logistical, legal, and political difficulties, as well as the unpredictability of its economic policy.
Reserves of Critical Resources
At the same time, Ukraine possesses significant reserves of titanium, lithium, nickel, and rare earth elements, which are essential for the high-tech industry and defense sector of the United States. The mining sector in Ukraine has the potential to develop according to Western standards, as the country is politically and economically stable.