Ukraine's $800 Million Investment Projects for Critical Materials
Date: 2023-11-02 Author: Dima Zakharov Categories: ECONOMY
The production and processing of critical materials in Ukraine have significant growth potential, as a working group has proposed investment projects worth $800 million.
The sectoral group included representatives from the Ministry of Economy, the State Service of Geology and Mineral Resources, and over 100 individuals from various sectors involved in the production and processing of critical materials, as well as associations and non-governmental organizations. "Ukraine possesses deposits of 22 out of the 34 minerals identified as critical by the EU. Ukraine ranks among the top 10 producers of titanium, zirconium, graphite, and manganese. These factors create favorable conditions for the development of the production and processing of critical materials in Ukraine, as well as the production of goods based on them," the report stated.
Participants in the working group proposed 29 reform projects. The majority of proposals relate to the access of future subsoil users to geological resources and production-sharing agreements (14), access to infrastructure and state financial incentives for new projects (11), and mining policy (4).
Following expert discussions, 19 proposals for policy changes were recommended for implementation.
During the working group's activities, investment projects worth $800 million were also proposed. These suggestions concerned the extraction of critical raw materials, their processing, and the production of end-target products.
The overall investment potential of the industry until 2033 is estimated at $12-15 billion.
The Plan format does not include the inclusion of investment projects, as noted by the Ministry of Economy. However, their analysis and processing are necessary to determine priority sub-sectors for development.
The sectoral group included representatives from the Ministry of Economy, the State Service of Geology and Mineral Resources, and over 100 individuals from various sectors involved in the production and processing of critical materials, as well as associations and non-governmental organizations. "Ukraine possesses deposits of 22 out of the 34 minerals identified as critical by the EU. Ukraine ranks among the top 10 producers of titanium, zirconium, graphite, and manganese. These factors create favorable conditions for the development of the production and processing of critical materials in Ukraine, as well as the production of goods based on them," the report stated.
Participants in the working group proposed 29 reform projects. The majority of proposals relate to the access of future subsoil users to geological resources and production-sharing agreements (14), access to infrastructure and state financial incentives for new projects (11), and mining policy (4).
Following expert discussions, 19 proposals for policy changes were recommended for implementation.
During the working group's activities, investment projects worth $800 million were also proposed. These suggestions concerned the extraction of critical raw materials, their processing, and the production of end-target products.
The overall investment potential of the industry until 2033 is estimated at $12-15 billion.
The Plan format does not include the inclusion of investment projects, as noted by the Ministry of Economy. However, their analysis and processing are necessary to determine priority sub-sectors for development.
