Ukraine has chosen a consortium led by TechMet, an power firm co-owned by a US authorities funding company established throughout Donald Trump's first time period, because the winner of a young for a production-sharing settlement protecting a lithium web site in Kirovohrad Oblast in central Ukraine.
Supply: The New York Occasions, citing two members of a Ukrainian authorities fee that made the choice
Particulars: The location, generally known as the Dobra lithium subject, is one among Ukraine's largest reserves of lithium, which is a key part in applied sciences reminiscent of electrical batteries.
Quote: "Whereas [the decision] requires formal approval from Ukraine's cupboard of ministers [Ukrainian government – ed.], the officers stated the deal was primarily sealed."
Extra particulars: The successful consortium reportedly has shut hyperlinks to US President Donald Trump's administration. Its members embody Ronald S. Lauder, inheritor to cosmetics firm Estée Lauder. The New York Occasions states that Lauder is a pal of Trump's, having recognized one another since their school days. The newspaper additionally describes him as a donor to the Republican Occasion.
TechMet's largest shareholder is the US Worldwide Improvement Finance Company (DFC), a US authorities company.
Tender phrases require a minimal funding of US$179 million, however a fee member who took half within the vote on 8 January says the consortium's supply is considerably greater.
Background:
- On 30 April 2025, Ukraine and the US signed a minerals deal envisaging the institution of a joint Ukrainian-American funding fund to handle Ukraine's assets.
- In September 2025, delegates from the US have been proven the primary deposits in Ukraine that might turn out to be starter initiatives for the Ukraine Reconstruction Funding Fund. On the time, the DFC representatives visited Kirovohrad Oblast.
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