U.S. company likely lithium bidder in first pilot project for joint Ukraine investment fund

The U.S. company Techmet is likely to bid in the first pilot project of the Ukraine-U.S. joint Reconstruction Investment Fund on a lithium mine in the centre of the country, Ukraine's first Deputy Prime Minister said on Thursday. Svyrydenko, writing on Facebook, reported on a meeting between President Volodymyr Zelenskiy and U.S. businesses, with much of the focus on the Fund, meant to exploit Ukrainian minerals and rare earths. The Fund was heavily promoted by U.S. President Donald Trump as fundamental for forging close ties.

Svyrydenko said Ukraine hoped to have three pilot projects up and running in the first 18 months of operation, including the lithium mine in Kirovohrad region. "Things have already started moving," Svyrydenko said, saying a commission had formally decided it was advisable to proceed with a tender for the Dobra lithium deposit.

"All the conditions of the competition are to be worked out soon. This deposit potentially falls under the mandate of the investment fund. Its development could become the first pilot project within the framework of joint investment. "Everything is to be competitive and in compliance with legislation."

Svyrydenko said a TechMet representative told the meeting that if the company won the tender "it was ready not only to explore and extract lithium, but also to build facilities for enrichment". "Our goal is to make it profitable to produce and export processed products in Ukraine," she wrote.

Svyrydenko has been the main driving force behind the accord and flew to Washington to sign it at the end of April.

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