Ukraine has significant deposits of rare earths. In 2022, the Russian-language service of UN News reported that Ukraine’s deposits of 21 rare earth elements from the list of 30 substances the European Union defines as “critical raw materials“, accounted for approximately 5% of the world’s reserves. These materials are key in the production of devices for the development of “green” energy. These include lithium, cobalt, scandium, graphite, tantalum, and niobium.
Critical reserves of strategic minerals in Ukraine
“About five per cent of all the world’s ‘critical raw materials’ are located in Ukraine, which occupies only 0.4 per cent of the Earth’s surface,” Ukraine’s Deputy Minister of Environmental Protection and Natural Resources Svetlana Grinchuk said, speaking at a meeting of the UN Economic Commission for Europe (UNECE) in 2022 before Russia’s full-scale invasion of Ukraine began.
The deputy minister pointed out as early as 2022 that Ukraine is a real treasure trove of lithium. The reserves of this mineral, which is so important from the point of view of renewable energy sources, amounted to about 500 thousand tons, according to a report by the National Academy of Sciences of Ukraine. Two sites, Shevchenkivske (Donetsk) and Kruta Balka (Zaporiyia), are currently located in conflict areas.
A real lithium treasure
“Lithium, due to its efficient energy storage per unit weight, has become virtually indispensable in producing electric vehicle (EV) batteries. Thus, support and cooperation in the further de-occupation of Ukrainian land will accelerate and expand access to Ukrainian critical raw materials for Ukraine and our partners from the UNECE region,” the Deputy Minister of Environmental Protection and Natural Resources said in 2022.
Demand for graphite, nickel, and other rare earth elements is growing
The World Meteorological Organization (WMO) estimates that investment in renewable energy needs to triple for the world to reach a net-zero emissions trajectory by 2050.
A specialized panel of experts convened by Guterres in 2024 reported that the energy transition from fossil sources to clean technologies will triple the need for copper, lithium, nickel, cobalt and other materials by 2030.
In addition, over the next two decades, demand for copper and rare earths is expected to increase by more than 40 percent, nickel and cobalt by 60 to 70 percent, and lithium by nearly 90 percent.
New mines need to be put into operation
According to the International Energy Agency, a significant expansion in production is needed to meet projected demand for essential minerals by 2030. To meet global net-zero carbon emissions targets by 2030, an additional 50 lithium, 60 nickel and 17 cobalt mines will need to be brought into operation.
The production process of critical raw materials has several drawbacks: it consumes a lot of energy and leaves a significant carbon footprint. In addition, a huge amount of waste is generated that requires active storage and management measures.
