"According to Ukraine's Prime Minister Yuliia Svyrydenko, the company belongs to the American consortium TechMet and The Rock Holdings, and the investment volume will be $179 million. However, the companies are represented in Ukraine by Volodymyr Ignashchenko - a former official from the era of ex-president Viktor Yanukovych, who has been linked to schemes involving mineral resources."
"Another participant in the competition - European Lithium, representing the American-Australian mining group Critical Metals, which specializes in the extraction and processing of rare-earth elements - offered significantly larger investments of more than $1.5 billion."
"Geological exploration conducted between 1989 and 2001 shows that 'Dobra' is one of the largest lithium deposits in Ukraine. According to the State Service of Geology and Subsoil of Ukraine, the deposit contains nearly 1.3 million tonnes of lithium ore."
Ukraine's government awarded the Dobra lithium deposit, one of the country's largest strategic mineral reserves containing approximately 1.3 million tonnes of lithium ore, to Dobra Lithium for $179 million. The winning company is backed by American consortium TechMet and The Rock Holdings, represented by Volodymyr Ignashchenko, a former official from Viktor Yanukovych's administration with connections to mineral resource schemes. A competing bidder, European Lithium representing the American-Australian Critical Metals group, offered significantly higher investment of over $1.5 billion. Questions arise regarding the tender's fairness and the government's decision to select the weaker bidder for this strategically important deposit containing Ukraine's main lithium reserves.
#ukraine-lithium-deposits #mineral-resource-management #government-tender-process #strategic-minerals #foreign-investment
Read at London Business News | Londonlovesbusiness.com
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