Ukraine welcomes German investment in subsoil development

The State Service of Geology and Mineral Resources of Ukraine invites German businesses to invest in developing Ukrainian subsoil, which will help create stable supply chains of critical raw materials to the EU.

The State Geology and Subsoil Service reported this based on the results of a round table organized by the German Mineral Resources Agency (DERA).

What is the problem?

Currently, some minerals from the list of critical are mined in small quantities.

What is the solution?

Volumes can be increased subject to significant capital investments and modern technologies.

"We invite German businesses to invest in developing Ukrainian subsurface resources. Such cooperation will contribute to creating sustainable supply chains of critical raw materials to Germany and EU countries," said Roman Opimakh, head of the State Service of Geology and Mineral Resources of Ukraine.

According to him, Ukraine has a significant potential for developing minerals that are included in the list of critical minerals for Europe, as well as Great Britain, the USA, and Canada.

How does it work?

The State Service of Geology and Mineral Resources of Ukraine prepared and published vacant objects in the Subsoil User's Investment Atlas, particularly with deposits of strategic minerals. These are about 30 offers of subsoil areas with deposits of lithium, zirconium, nickel, tantalum, graphite, etc., which may be of interest to investors.

Also, during the conference, the parties discussed the policy of Ukraine in the field of critical raw materials and the possibility of German-Ukrainian cooperation in this context.

Opimakh informed his colleagues that it is possible to obtain a plot of subsoil for use by participating in electronic auctions, competitions for the conclusion of agreements on the distribution of products, as well as by entering already existing "farm-in" subsoil use projects, or by purchasing a special permit from a company that has received the right develop the subsoil.

The head of the German Mineral Resources Agency, Peter Buchholz, noted that he would invite mining companies from Germany to the Conference on the Restoration of Ukraine, which Great Britain and Ukraine will jointly hold in London in June 2023, so that they can familiarize themselves with the potential of Ukrainian subsoil.