A first-of-its-kind agreement gives the U.S. access to Ukraine’s critical minerals while helping rebuild a war-torn country. 

The U.S. and Ukraine just signed a first-of-its-kind deal that could reshape the global race for critical minerals and turbocharge Ukraine’s eventual recovery at the same time. 

The agreement, finalized in Kyiv on April 30, 2025, is designed to give Ukraine the infrastructure and money it needs to rebuild, while ensuring America has access to the natural resources that will power the 21st century.  

President Trump says Russia and Ukraine “are very close to a deal” that will end the war, which Russia started when it invaded Ukraine unprovoked in February 2022. The latest agreement lays out the framework for Ukraine’s role in the post-war world. Here’s what it says:

The Ukraine Minerals Deal, Explained 

The centerpiece of the agreement is a 50/50 investment fund managed by both countries. Ukraine contributes half the money it receives from selling mining or drilling licenses, and then the U.S. contributes an equal amount – but America’s share can include things like military aid, engineer training, and technology in addition to cash.  

The fund will invest in new mining, oil, and gas projects in Ukraine, broadly. It can include things like starting a new lithium mine, building processing facilities for minerals, or setting up pipelines and roads to transport oil.  

Both countries get an equal cut of the profits from these investments. And the investment fund gets a chance to invest in any new covered resource project; Ukraine can’t offer a deal to other countries without offering the same deal to the U.S.-backed fund.

What’s Not in the Deal 

The deal doesn’t make explicit security guarantees for Ukraine like they wanted. The U.S. doesn’t promise to defend Ukraine or give them aid if they are attacked again. However, the mineral deals give the U.S. a financial incentive to keep Ukraine secure: if they are attacked, the supply chain will be disrupted and American companies will lose access to the minerals and other resources. As President Trump put it: “We are a backstop because we’ll be over there, we’ll be working in the country. … I don’t think anybody’s going to play around if we’re there with a lot of workers.” 

And since military aid counts as contribution to the investment fund, the U.S. will likely continue sending weapons, ammo, and vehicles to Ukraine – strengthening their military and deterring invaders.  

The deal also doesn’t require Ukraine to “pay back” the U.S. for its military aid so far, as President Trump wanted. 

Why the Ukraine Minerals Deal Matters 

The deal covers 57 strategic natural resources, including oil and gas along with “critical minerals” like lithium, cobalt, titanium, and uranium.  

These minerals are crucial for U.S. military and energy purposes, yet much of the world’s supply is controlled by hostile nations. 

  • Uranium is the fuel for nuclear energy and weapons, and almost half of our supply comes from Russia and Kazakhstan.  
  • China processes 70% of the global supply of lithium and cobalt, which are the main ingredients in electric vehicles and energy storage. 
  • The U.S. military uses titanium in aircraft, armor, and ships, and China produces most of the world’s supply.  

This dependency is a major national security risk for the U.S. The deal with Ukraine will help bring these supply chains to friendly countries instead of China and Russia.  

The Road Ahead 

After months of (sometimes contentious) negotiations, this deal finally came together. Now, the question is whether the war ends soon enough for the deal to reach its full potential. 

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