Published by Global Banking and Finance Review
Posted on May 1, 2025
LONDON (Reuters) - Ukraine and the U.S. on Wednesday signed a deal heavily promoted by U.S. President Donald Trump that will give the United States preferential access to new Ukrainian minerals deals and fund investment in Ukraine's reconstruction.
Here is Ukraine's current metal production, existing production capacity, metals development projects and reserves or resources of deposits.
Sources of information: Benchmark Mineral Intelligence (BMI), US Geological Survey (USGS), International Aluminium Institute, Ukraine's customs service, World Nuclear Association, CEIC, company data.
EXPORTS
In 2024, Ukraine exported goods worth $41.6 billion, of which metals/metals products accounted for $4.4 billion or 11% of the total, according to the customs service.
In 2020, Ukraine's exports were worth $49.2 billion, including $7.7 billion of ferrous metals.
ALUMINA
As of 2021, the Mykolaiv (Nikolaev) Alumina Refinery was refining imported bauxite into 1.8 million metric tons of alumina a year and sending it to Rusal in Russia.
The refinery suspended production after Russia invaded Ukraine in 2022.
Mykolaiv's alumina production was equal to 1.3% of the world's total 138.6 million tons in 2021, according to the International Aluminium Institute. In 2024, global alumina production was 147 million tons.
COAL
Ukraine has coal mines, but they are mainly in eastern Ukraine, in Russia-occupied regions.
Ukraine's coal production fell to 23.3 million tons in 2023 from 64.9 million tons in 2013, according to the CEIC data.
GALLIUM
Ukraine produced 1 ton of gallium in 2021, according to the USGS. By comparison, China produced 750 tons in 2024.
GRAPHITE
Ukraine produced 1,200 tons of graphite in 2024 or 0.08% of the world's total, according to the USGS.
Currently, Zavalievsky Plant is the only operating graphite asset in Ukraine. It restarted production in October after a temporary halt due to a lack of investment, according to BMI.
The Balahovskoe Graphite Deposit has yet to be developed. Its operator BGV Graphite invested $10 million in a pre-feasibility study and preliminary economic assessment in 2024. The study was completed in early 2025.
IRON ORE
Ukraine increased iron ore exports by 90% year on year to 33.7 million tons last year as a corridor for exports by sea opened in August 2023.
As of 2020, Ukraine was producing 3.2% of the world's iron ore by content and 1.5% of pig iron, according to the USGS.
LITHIUM
There are two early-stage lithium projects, which would exploit hard-rock deposits, in Ukraine.
Shevchenkivskyi is the biggest and is located in Donetsk, one of four Ukrainian regions that Moscow has claimed as its own territory.
The second project is the Polokhivske and Dobra deposits located in central Ukraine.
According to Ukraine's State Geological Service, Ukraine has lithium reserves of 500,000 metric tons, which would amount to 1.7% of the world's total.
MANGANESE
As of 2020, Ukraine was producing 3.1% of the world's manganese ore by content, according to the USGS. But production has declined since then.
At least two manganese mining and processing plants in Ukraine have remained idle since November 2023 and another two resumed minimum production in the second quarter of 2024, it added.
Production of silicomanganese fell by 45% to 104,150 tons and of ferromanganese by 66.5% to 3,600 tons in 2024, Interfax-Ukraine reported in February citing the Ukrainian Association of Ferroalloy Producers.
RARE EARTHS ELEMENTS
Ukraine does not currently have any commercially operating rare earth mines or any deposits under active development.
China remains the dominant player in the rare earth market, holding a near-monopoly on global supply.
According to Ukraine's Institute of Geology, the country possesses rare earths such as lanthanum, cerium, neodymium, erbium and yttrium. Detailed data about reserves is classified.
Rare earths are abundant around the globe, but minable concentrations are less common than for most other mineral commodities, according to USGS.
STEEL
Ukraine's steel plants are located in the central, southern and Russia-occupied eastern regions of Ukraine.
Ukraine produced 7.6 million tons of steel in 2024, 0.4% of the global output, down from 21.4 million tons in 2021, according to the World Steel Association.
TITANIUM RAW MATERIALS
Ukraine was the world's fifth-largest producer of titanium sponge with 2.2% share in global output and sixth-biggest producer of ilmenite with 5.8% share in 2020, according to the USGS data which excludes U.S. production.
Since 2022, Ukraine has focused on production of a type of ilmenite concentrate which the chemical industry uses for pigment production.
UMCC Titanium, which Ukraine re-privatized in late 2024, operates a mining and processing plant in the northwest. It restarted production in July.
The company supplied 110,000 metric tons of ilmenite concentrate, partly from existing stocks, to the U.S. and Europe in January-September 2024, according to company data cited by Ukrainian media outlet Liga.net.
URANIUM
Ukraine has the world's 12th largest uranium resources of 107,200 tons, 2% of the global total, according to World Nuclear Association.
Ukraine's production has been volatile in the past 10 years, according to the association, reaching 455 tons or 1% of the world's total in 2021.
(Reporting by Polina Devitt; Editing by Cynthia Osterman)
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