What are rare earth minerals? Why does US President Trump want Ukraine’s?
What are rare earth minerals? Why does US President Trump want Ukraine’s?
The self-proclaimed dealmaker says Washington should have access to Ukraine’s riches in exchange for wartime aid.
Author: Unknown
Published on: 07/02/2025 | 00:00:00
AI Summary:
United States President Donald Trump touted a deal to gain access to Ukraine’s rare earth minerals as payment for Washington’s support to Kyiv during Russia’s full-scale invasion of its neighbour. "We’re telling Ukraine they have very valuable rare earths," Trump said. The US has allocated 88.33 billion euros ($92bn) to Ukraine from January 2022 to October 31, 2024. China processes at least 90 percent of the world’s rare earths, giving it a “near monopoly”. The USGS estimated the value of rare earth compounds and metals imported by the US in 2023 was $190m, a 7 percent decrease from the year before. Ukraine said it was one of the world’s top 10 countries for proven reserves of titanium. In 2022, Russia said it made up 7 percent of global production. Zelenskyy said Ukraine was open to investment from allies helping it in the war.
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