Ukraine Launches Tender for Major Lithium Deposit
Ukraine is welcoming bids for the right to develop a major lithium deposit in central Kirovohrad region as part of its minerals deal with the US, even as a legal dispute looms over ownership of the project.
The tender for lithium mining at the Dobra site was confirmed last week by Prime Minister Yulia Svyrydenko, during an announcement of Ukraine’s approved plans to tap into its vastly underexplored natural resources.
According to the Ukrainian Geological Survey, the country’s critical minerals account for about 5% of the global total. Amongst the most prominent is lithium, for which it holds about a third of Europe’s endowment.
Lithium is a critical component in batteries and is mined in regions such as Australia and South America, but China dominates global processing. Western countries, including the US, are seeking to reduce reliance on Beijing for critical minerals, a push reinforced by President Donald Trump’s tariffs this year on a range of metals.
The Dobra tender is the first step in a minerals co-operation agreement signed in late April between Kyiv and Washington, a centrepiece of the Trump administration’s “transactional approach” to Ukraine. Under the deal, US companies will receive preferential access to mining projects, while profits will be reinvested locally.
Potential dispute
The announcement sets up a potential clash with American companies. Nasdaq-listed Critical Metals (NASDAQ: CRML) claims it controls the rights to Dobra through its top shareholder, Australia’s European Lithium (ASX: EUR).
Mykhailo Zhernov, a board member at both companies, stated in a July interview with the Financial Times that the Dobra license was originally due to be issued to Petro Consulting, which European Lithium acquired in 2024. Despite a court ruling ordering the government to issue the licence the previous year, he said it was never formally granted.
“It is our licence, it is our rights. You cannot propose something for another investor before you finish with us,” Zhernov told the FT.
However, neither Critical Metals nor European Lithium provided FT with documentation of the licence or the ruling.
Mining investment firm TechMet, which counts the US government as one of its largest investors, also expressed its interest in developing the lithium asset. Its chief executive Brian Menell said earlier this year that his company had been evaluating the project since 2023, and confirmed to FT that it will make a bid when the tender launches.
“We expect an investor who will ensure not only extraction but also the development of value-added,” PM Svyrydenko wrote on the Telegram app when making the announcement.
$179M investment
The Dobra site, Ukrainian government officials say, contains significant reserves of lithium, a mineral of strategic importance for energy and technology.
On its website, Ukraine’s economy ministry said that the winner of the tender would sign a 50-year agreement and commit to investing at least $179 million.
“This amount includes both funding for geological exploration and the launch of production and enrichment,” it stated.
