Trump: US edges closer to mineral deal with Ukraine, plans potential power plants ownership

US President Donald Trump announced that the US and Ukraine are nearing a significant agreement on mineral extraction and revenue sharing, while also discussing the potential involvement of American firms in owning Ukrainian power plants
US President Donald Trump during a White House press briefing on 21 March 2025. Photo: Screenshot from the video
Trump: US edges closer to mineral deal with Ukraine, plans potential power plants ownership

On 24 March, US President Donald Trump said he expects Washington and Ukraine to sign an agreement on rare minerals soon, according to Reuters.

The US and Ukraine are on the cusp of finalizing a comprehensive agreement to extract Ukraine’s critical mineral resources. This deal, which has been a focal point of tension and negotiation, aims to grant the US access to Ukraine’s substantial deposits of graphite, titanium, lithium, and rare earth metals—crucial for advanced technologies and military systems. Despite earlier setbacks, including a contentious meeting between President Trump and President Zelenskyy, both countries have expressed commitment to completing the agreement soon.

Trump also told reporters during a meeting with his cabinet that the US is discussing the possibility of American companies owning Ukrainian power plants. He did not specify which power plants were being referred to.

“We’re talking about territory right now. We’re talking about lines of demarcation, Talking about power, power plant ownership. Some people are saying the United States should own the power plant…because we have the expertise,” he said.

On 23 March, an American delegation met with Ukrainian officials and, on 24 March, held talks with Russian officials in Riyadh, Saudi Arabia.

The discussions were primarily focused on a ceasefire in the Black Sea, but Trump emphasized that other issues were also on the agenda as he insisted on ending Russia’s all-out war against Ukraine.

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