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Ukraine. Lithium – white gold. Ukraine has one of the largest reserves of rare earth metals in Europe

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There may be 500,000 tons of lithium on the territory of Ukraine, located mainly in the so-called Ukrainian (Volyn-Azov) shield. It would thus be one of the largest deposits of “white gold” in Europe, stressed the analysts of the Polish Economic Institute. The value of metal deposits in Ukraine is estimated at USD 11.5 trillion.

PIE experts referred to data according to which the Russians currently control USD 12.4 trillion worth of deposits of natural resources located in the territory Ukraine. Part of it has been under Russian occupation since annexation of Crimea and start fighting Donbass in 2014. “Among them, there are 42 percent of Ukrainian metals and 33 percent of rare earth metals,” the analysts pointed out.

Lithium mine (illustration photo)Shutterstock

One of the largest resources of rare earth metals in Europe

In the latest issue of “Tygodnik Gospodarczy PIE” it was pointed out that the Russians took control of six iron ore deposits, two titanium mines, two zirconium mines, one – strontium and one each: uranium, lithium and gold.

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“Ukraine has significant reserves of industrial metals, one of the largest reserves of rare earth metals in Europe and prospective reserves of lithium. The latter metal plays a key role in the green transformation, including as a material for the production of lithium-ion batteries” – the experts noted. They cited estimates that there may be 500,000 on the territory of Ukraine. tons of lithium, located mainly in the so-called Ukrainian shield (Volhynia-Azov). “It would thus be one of the largest ‘white gold’ deposits in Europe” – they emphasized.

Ukraine also has 10 percent. world reserves of iron and significant reserves of manganite, titanium, gallium and germanium, they added. “In 2021, it was ranked 6th in the world in the production of iron ore (81 million tons) and 5th in its exports (USD 6.9 billion)” – reminded PIE. Analysts pointed out that these deposits are mainly found in the Krzyworoski Basin, where the largest open-pit iron mine in Europe is located, near Kremenchuk and in the Bilozerski region. Ukraine was also ranked 5th in the production of manganite (670,000 tons), 7th – titanium (432,000 tons), 3rd – gallium (9 tons) and 5th – germanium (1 tonne).

Value over $11 trillion

Experts pointed out that the vast majority of metal deposits are located in the east of the country and in the “Ukrainian shield”, which is also a reservoir of 22 rare earth metals. They include e.g. beryl (Żytomir Oblast), zirconium (Donetsk Oblast) or tantalum, niobium and zirconium ores (Mazurivka). “The total value of geologically marked metal deposits in Ukraine is estimated at between $3 trillion and $11.5 trillion.” – they concluded.

Read also: Ukraine’s economy has shrunk sharply. New data

Main photo source: Shutterstock

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