Ukraine to overhaul its geological survey procedures

Nation

14 February 2025, 01:36 AM

An upcoming project to reassess Ukraine’s natural resources will include overhauling the state-owned Nadra company, which conducts audits of mineral resources, President Volodymyr Zelenskyy announced on Feb. 13.

“We started with the idea that we want this information to be open to attract investors,” Zelenskyy said in his evening address.

“We particularly want Ukrainian investors to have priority access to view and invest in these resources. Additionally, we hope to involve our partners, preferably Americans, because we have seen that they can guarantee both investment and security of these areas.” 

Zelenskyy added that he instructed the Economy and Ecology ministries to implement the reform.

“Competent people will be appointed, and they will quickly carry out an audit,” the president stated.

“What we have prepared has already undergone a swift audit. It’s clear that not only are there rare earth metals, but some are on [Russia-] occupied territory, and others on territory under our control.” 

On Feb. 8, in an interview with the New York Post, U.S. President Donald Trump expressed his desire to make a deal with Zelensky for access to Ukraine’s rare earth minerals and gas in exchange for security guarantees in any potential peace settlement.

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