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US company wants to develop lithium deposit in Ukraine

US government is a shareholder in TechMet

Mar 11, 2025 13:21 97

US company wants to develop lithium deposit in Ukraine  - 1

The US company TechMet has announced its desire to develop a lithium deposit in the Kirovohrad region of Ukraine, said the company's CEO Brian Menell, whose words were quoted by the Financial Times newspaper.

According to him, we are talking about a deposit of good lithium ore. Brian Menell said that the lithium reserves there are “very significant“ and the company has been exploring the site since 2023. "TechMet's interest in the deposit is not dependent on a potential minerals agreement," said the company's CEO. "However, if the minerals deal happens, it will certainly increase our interest and create a basis that will justify the need to work more, on a larger scale, faster," he added.

The newspaper notes that the US government is a shareholder in TechMet.

On March 4, US President Donald Trump, during a speech to both houses of the US Congress, announced that he had received a message from Volodymyr Zelensky about his readiness to negotiate a peaceful settlement of the conflict in Ukraine. Zelensky indicated that he was ready at any time to sign an agreement with the US on the extraction of Ukrainian minerals. In Washington, Kiev's readiness for negotiations was tied to the possibility of resuming arms supplies.