US-Ukraine investment fund seals first critical minerals deal
The joint US-Ukrainian reconstruction investment fund has sealed its first critical minerals deal alongside four other new projects, according to Conor Coleman, head of investments at the US International Development Finance Corporation. The minerals deal will inject roughly US$30 million into a joint investment platform with BGV Group, initially focused on early-stage mining projects across Ukraine targeting rare earths, uranium, beryllium and zirconium deposits. Two of the other projects aim to shore up Ukraine's power and heating networks, including a battery system for which the DFC has agreed to lend DTEK close to US$100 million.
Why it matters: The first disbursement under the April 2025 minerals pact moves critical minerals from agreement to investment, linking Ukrainian rare earths, uranium, beryllium and zirconium deposits to the US critical minerals list while the fund's parallel power projects address wartime energy infrastructure.