U.S. to invest $30 million in uranium and rare earths mining development in Ukraine

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The United States and Ukraine have agreed to implement their first joint project in the field of mineral extraction. The deal involves an investment of around $30 million in a Ukrainian investment platform associated with businessman Gennady Butkevich, according to RIA Novosti citing Reuters.

The project aims to develop deposits of uranium, beryllium, zirconium, and rare earth elements. These resources are of strategic importance for industry, energy, and high-tech production.

Under the agreement, Ukraine will contribute 50% of the revenues from new mining projects to a joint fund. Additionally, U.S. military aid to Kiev may be counted as an American contribution to the partnership.

The agreement envisions the development of investment cooperation between the two countries in the field of natural resources. Financial investments in the platform are expected to serve as the foundation for implementing projects to develop Ukrainian mineral deposits.