US-Ukrainian fund unveils first critical minerals deal
The U.S.–Ukraine Reconstruction Investment Fund (URIF) jointly unveiled several investment projects on Oct. 2, including the first-ever critical minerals deal with Ukrainian company BGV Group Management.
The US-Ukrainian Reconstruction Investment Fund (URIF) announced its first critical minerals partnership on October 2nd with Ukrainian firm BGV Group Management. This marks the inaugural investment of its kind, spearheaded by President Donald Trump. In April 2025, Ukraine and the United States established the so-called minerals deal, which created a joint investment fund in Ukraine and granted U.S. access to investment projects there.
The fund, one of several bilateral arrangements since Russia's invasion, will develop a portfolio of mining projects across Ukraine, with a focus on rare earths, beryllium, and zirconium deposits. While the specific investment amount remains undisclosed, Reuters reported it could be around $30 million. Meanwhile, URIF is also investing in energy projects, including a $97 million loan to Ukraine's largest private energy firm, DTEK, for a battery storage project, and an equity investment in a combined heat and power (CHP) cogeneration platform to restore energy supply to affected homes.
U.S. Treasury Secretary Scott Bessent highlighted the significance of these investments in realizing the vision of the April 2025 agreement, with profits remaining in Ukraine for the first decade.
Written by urgent.news from Kyiv Independent's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
