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Ukraine plans to restart geological exploration in 2026 with international partners as part of the US-Ukraine minerals agreement reached in May this year, Deputy Minister of Economy, Environment, and Agriculture Yegor Perelygin told Ukrinform. The minerals cooperation deal focuses on subsoil development, extraction, and international investment, among other things. Under the agreement, Ukraine is to transfer half of its mineral extraction revenues to the US-Ukraine Reconstruction Investment Fund, while the US is to contribute an equal share of its revenues to the same fund. “I can’t even say exactly when Ukraine last conducted geological exploration using budget funds, but it was definitely more than 10 years ago,” Perelygin told Ukrinform. “Next year, we are bringing back geological exploration through a budget program.” According to the Deputy Minister, Ukraine plans to involve international partners in the new exploration phase. Interest has already been expressed by companies from the United States, Germany, Canada, and the United Kingdom. Access to some of Ukraine’s rare earth element deposits remains limited, as certain reserves are located in Russian-occupied territories. Exact data on the location and volume of these deposits remains classified as a state secret. Much of Ukraine’s existing geological data dates back to the Soviet era, when extensive exploration programs were conducted. Renewed exploration efforts could provide accurate, up-to-date information on the country’s mineral resources, including rare earth elements critical for modern technologies. The exploration program will begin with mapping and sampling known sites, followed by modern techniques such as geophysical surveys, satellite imaging, and drilling to determine the size, grade, and potential of deposits. With these tools, Ukraine can discover new deposits, update old Soviet-era data, and prioritize efficient, sustainable extraction, Perelygin said. Despite ongoing hostilities, Perelygin said that work could begin at previously identified deposits. “We understand that we cannot, for example, use lidar radar at this time,” he explained. “But we have hundreds of known ore occurrences. We can go there with drilling rigs and start working.” He added that more advanced technologies – such as lidar scanning and GIS mapping – can be used after the war ends. “But we must not waste time, we need to start. The most important thing is to take the first step,” the Deputy Minister said.
