Shmyhal: Ukraine proposed to the EU to jointly extract uranium, lithium, and titanium

This proposal is mentioned with reference to Ukraine’s Prime Minister Denys Shmyhal in an interview with Politico.

The head of the government emphasized that by agreeing to Ukraine’s accession, the EU countries will not only gain extended borders but also reliable protection in the form of the Ukrainian army. He also highlighted the financial benefits.

Shmyhal mentioned that Ukraine possesses 22 out of the 30 minerals critical to the EU. In particular, Ukraine ranks first in Europe in terms of uranium reserves.

"We are capable of not only meeting our own energy needs but also exporting uranium, especially in the context of growing demand for nuclear energy in the EU," the prime minister added.

Furthermore, Ukraine has the largest lithium reserves in Europe. Shmyhal noted that in 2021, 460,000 tons of lithium carbonate were used globally, and by 2030, the demand will increase to 6 million tons. Ukraine is ready to create joint ventures that will provide the EU with a strategic advantage.

"Ukraine is among the world leaders in titanium reserves. Only 10% of the explored reserves are being developed, so we can fully replace the import of Russian titanium for European industries, including the defence sector," Shmyhal said.

The head of the government added that the reconstruction of Ukraine is also an opportunity for Europe to grow along with Ukraine. He stressed that hundreds of billions of euros in investments will create new production facilities and jobs both in Ukraine and in EU countries.