Ukrainian President Volodymyr Zelenskyy has pushed back against a U.S. proposal to acquire 50% of Ukraine's critical minerals as part of military and economic assistance. While he didn't outright dismiss the idea, Zelenskyy highlighted the absence of necessary security guarantees. The article discusses the significance of critical minerals in pivotal technological sectors, particularly in the context of the ongoing transition to green energy and increasing geopolitical competition. With the market for these minerals estimated at $320 billion in 2022, their importance is set to escalate amid global demands for clean energy consistency and reduced fossil fuel dependence.
Zelenskyy expressed that while he did not reject the US proposal for Ukraine's minerals ownership, it lacked crucial security provisions that Kyiv required to consider it seriously.
The market for energy transition minerals like cobalt and lithium reached $320 billion in 2022, with projections indicating a potential doubling of demand by 2030.
Critical minerals have become a focal point amid geopolitical competition, with varying definitions and significance based on each country's domestic and strategic interests.
The urgency of addressing climate change has heightened the rush for critical minerals necessary for electrification, green tech, and even defense-related applications.
Collection
[
|
...
]