Russia Covets Ukraine’s $15 Trillion Mineral Trove

(Kyiv) – Ukraine’s vast mineral wealth, valued at an estimated $15 trillion, has become a focal point of Russia’s military objectives in its ongoing war. While full-scale development of these resources requires investment, their immense value makes them a key motivator behind Russia’s aggression.

In 2023, Russia’s Wagner Group, infamous for exploiting natural resources in conflict zones, spearheaded attacks on Bakhmut in eastern Ukraine. The brutal “meat grinder” tactics employed in the city resulted in tens of thousands of casualties. Strategically, Bakhmut held limited significance. However, the region’s gypsum mines, which Wagner’s leader Yevgeny Prigozhin targeted, revealed another motive: resource exploitation. Prigozhin’s ambitions ended when he was killed, allegedly by his own government.

Ukraine’s proven mineral reserves exceed 110 billion tons, encompassing around 100 types of resources. These include coal, manganese, iron, titanium, lithium, natural gas, nickel, aluminum, and cobalt, as well as other valuable ores and metals. The coal reserves alone are estimated at 40 billion tons, and natural gas reserves are valued at $0.5 trillion. Such resources are critical for both traditional industries and emerging technologies, particularly the global energy transition.

A significant portion of Ukraine’s mineral wealth lies in areas under Russian occupation or attack, including Crimea, Luhansk, Donetsk, and Zaporizhzhia. These regions, together with others like Dnipropetrovsk, Kharkiv, Poltava, and Kryvyi Rih, hold deposits valued at over $10 trillion.

Although Russia is also rich in natural resources, its strategy appears driven by a desire to monopolize markets and manipulate global prices. This contrasts with Ukraine’s open approach, where resource development involves partnerships with private businesses. Before the full-scale invasion, Ukrainian enterprises engaged in high-profile deals, such as the sale of an amber extraction operation to a Chinese investor. Even during the war, international firms like Turkey’s Onur Group have continued to invest in Ukrainian industries.

Foreign investment remains a cornerstone of Ukraine’s post-war recovery strategy. Collaborative ventures, such as those with Knauf and other global enterprises, highlight the potential for economic growth despite ongoing challenges. The Ukrainian government actively promotes such partnerships as a means of fostering resilience and securing the country’s future.

Rothschild Jobi

Armed with a Laptop and a cup of coffee, Rothschild is on a mission to conquer the news world, one headline at a time.