Finance
Ukraine will auction three titanium ore deposits, PM says
Published by Global Banking & Finance Review®
Posted on March 10, 2026
2 min readLast updated: March 10, 2026
Quick Summary
Ukraine plans to electronically auction three titanium ore extraction sites—Malyshevske, Valky‑Hatskivske, and Mezhyrichne—after revoking extraction rights from sanctioned businessman Dmytro Firtash. The state geological service is also reviewing 38 other strategic mineral permits suspected to be do
Ukraine to Auction Three Major Titanium Ore Deposits After Permit Removal
Overview of Ukraine's Titanium Ore Auction and Strategic Mineral Policy
KYIV, March 10 (Reuters) - Ukraine will auction three titanium ore deposits after stripping a fugitive businessman of extraction rights, Prime Minister Yulia Svyrydenko said on Tuesday.
Details of Permit Removal and Auction Plans
In a statement on social media, Svyrydenko said the rights to explore the Malyshevske field in Dnipropetrovsk region and the Valky-Hatskivske and Mezhyrichne sites in Zhytomyr region had been taken from businessman Dmytro Firtash, who has been sanctioned by Kyiv.
Next Steps for Businesses
"The next stage is to wait for initiatives from businesses to obtain the right to use these subsoil resources through open auctions," she said.
Government Measures for Auction Transparency
The prime minister said Ukraine's cabinet had allowed for the sites' permits to be auctioned electronically.
Review of Strategic Mineral Resource Permits
Svyrydenko also said Ukraine's state geological service was reviewing 38 other permits for strategic mineral resource exploration which it said were suspected of being "sleepers" - where holders do nothing with the permits.
International Cooperation and Investment
Ukraine-U.S. Mineral Resources Deal
Last year, Kyiv signed a mineral resources deal with Washington as it sought to keep President Donald Trump on side, giving the U.S. preferential access to new Ukrainian minerals projects in exchange for investment.
Investment Fund and Project Pipeline
A joint Ukrainian-U.S. investment fund formed as a result of that deal has identified over 20 potential projects, with the top eight being worth $1.2 billion, according to Kyiv's economy ministry.
(Reporting by Yuliia Dysa, writing by Max Hunder; Editing by Bernadette Baum, Alexandra Hudson)
Key Takeaways
- •Ukraine is moving to reallocate titanium ore deposits via open electronic auctions after stripping fugitive businessman Dmytro Firtash of extraction rights (unn.ua)
- •The auctioned sites—Malyshevske (Dnipropetrovsk region), Valky‑Hatskivske and Mezhyrichne (Zhytomyr region)—represent strategic titanium ore assets (unn.ua)
- •Ukraine is scrutinizing 38 other permits for strategic minerals deemed “sleepers,” aiming to revoke idle licenses and boost resource development (unn.ua)
References
Frequently Asked Questions about Ukraine will auction three titanium ore deposits, PM says
1Which titanium ore deposits will Ukraine auction?
Ukraine will auction the Malyshevske field in Dnipropetrovsk region and the Valky-Hatskivske and Mezhyrichne sites in Zhytomyr region.
2Why were extraction rights stripped from the previous businessman?
Extraction rights were removed from Dmytro Firtash, a businessman sanctioned by Kyiv.
3How will the titanium ore permits be auctioned?
The permits for the titanium ore sites will be auctioned electronically.
4What is the Ukrainian government doing about inactive mineral resource permits?
The state geological service is reviewing 38 other permits for suspected 'sleeper' mineral resources.
5What agreements exist between Ukraine and the U.S. on mineral resources?
Kyiv signed a deal with Washington offering the U.S. preferential access to new mineral projects in exchange for investment.
