MOSCOW, February 11. /TASS/. The commercial feasibility of Ukraine’s mineral deposits has not yet been calculated, and any projects in that regard remain only on paper, Ukraine’s Ekonomicheskaya Pravda daily wrote with reference to experts.
"The geological data that we have at our disposal dates back to the Soviet period. That is why everything needs to be prospected first, and only then can conclusions be drawn about the commercial feasibility of such projects," said Mikhail Gonchar, the president of the Centre for Global Studies "Strategy XXI."
The former head of the State Service of Geology and Mineral Resources of Ukraine, Vladimir Boiko, shares the same opinion. In his words, Ukraine will have to invest into proper prospecting of the deposits first, and then confirm the findings in accordance with international standards, because all information about them is based on studies conducted during the Soviet period.
"Production of any intermediary product will cost $250-300 million," he said, adding that the entire process will take four years at the least.
Otherwise, Ukraine will be selling a "pig in a poke," Boiko warned.
Earlier, The New York Post reported that President Donald Trump intended to negotiate a $500-million deal with Ukraine to secure access to rare earth metals and gas in exchange for security guarantees as part of any potential peace settlement. Vladimir Zelensky admitted later that large amounts of rare earth minerals that Ukraine had offered to the United States are on territories no longer controlled by the Kiev government. In an interview to Reuters, Zelensky said he was ready to sign a deal, and offered his country’s mineral resources and underground gas storages in exchange for security guarantees.