Ukraine expects to attract 10 billion USD in extraction of critical minerals

KIEV, Jan. 26 (Xinhua) -- Ukraine's State Service for Geology and Subsoil expects to attract about 10 billion U.S. dollars of investments in the development of deposits of critical and strategic minerals, in particular, lithium, titanium, uranium, nickel, cobalt, and others, Interfax Ukraine news agency reported on Tuesday.

Such plans were announced by the agency's head Roman Opimakh during the presentation of the investment potential of Ukraine at the "Minerals of the Future" press conference on Tuesday.

According to the speakers, the agency intends to attract investors to the development of the minerals by putting up plots of land with mineral deposits for transparent auctions.

"Their comprehensive development, according to our estimates, will attract over 10 billion U.S. dollars of investments to Ukraine," Opimakh stated during the presentation.

Opimakh specified that the implementation of mineral extraction projects will be carried out over at least the next five years since mineral extraction projects are long-term.

Ukraine has significant deposits of non-ferrous metals. In particular, it is one of the ten leading countries in the world in terms of the volume of explored reserves of titanium ores.

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