Ukraine Poised to Finalize Long-Awaited U.S. Mineral Deal Amid Strategic Shift

After weeks of tense negotiations and delays, Ukraine is set to sign a long-anticipated mineral resources deal with the United States as early as Wednesday, according to a source familiar with the matter.

The agreement, which has been in the works since President Donald Trump returned to the White House in January, is expected to establish a joint investment fund granting U.S. access to Ukraine’s vast untapped mineral reserves. In return, Washington will inject fresh investments into Ukraine’s recovery and development efforts.

Ukrainian Prime Minister Denys Shmyhal confirmed that the country’s economy minister, Yulia Svyrydenko, is en route to Washington to finalize the agreement. Speaking on Ukrainian television, Shmyhal said, “We are finalizing the last details with our American colleagues. I hope the agreement will be signed within the next 24 hours.”

If completed, the deal would mark a pivotal step in U.S.-Ukraine cooperation at a time when both security concerns and economic resilience are high on Kyiv’s agenda.

The path to this deal hasn’t been smooth. Ukrainian President Volodymyr Zelensky was initially expected to ink the agreement during a February trip to Washington. However, that visit was cut short after a tense Oval Office meeting with Trump, leaving the deal unsigned.

At the center of the dispute were disagreements over security guarantees. Trump reportedly insisted on delaying any commitments on security until after Ukraine signed the agreement. At one point, Zelensky criticized the deal’s terms, saying it felt like he was being asked to “sell” his country.

Not long after that failed meeting, Trump temporarily froze U.S. aid to Ukraine—sending shockwaves through Europe and prompting renewed pledges of support from Kyiv’s European allies. Although aid has since resumed, the episode left a lasting impact.

While full details haven’t been made public, Shmyhal has characterized the agreement as a “strategic” and “equal” partnership. The U.S. and Ukraine will establish a jointly managed investment fund, with both countries contributing equally. According to Shmyhal, new U.S. military aid may also be counted as a contribution to the fund.

He also clarified that the deal will not retroactively include previous U.S. assistance. Instead, it is focused on fostering future collaboration, especially around rebuilding Ukraine’s economy and infrastructure.

Ukraine holds significant reserves of critical minerals—22 out of the 50 deemed essential by the U.S. Geological Survey. These include rare earth elements vital for electronics, green energy technologies, and defense systems.

Western nations, eager to reduce their dependency on China for these materials, have increasingly looked to Ukraine as a potential alternative source. The Biden administration had already laid the groundwork for this through a memorandum of understanding that encouraged U.S. investment in Ukraine’s mining sector, provided Kyiv offered economic incentives and upheld environmental standards.

Ukraine already has a similar agreement in place with the European Union, signed in 2021.

The signing of this U.S.-Ukraine mineral agreement—expected to happen Wednesday—could signal a new phase in the partnership between Washington and Kyiv, balancing economic opportunity with strategic security.

This story is still developing.

Source: CNN – Ukraine expects to sign long-awaited US mineral deal Wednesday, source says