Jan 12 (Reuters) – A U.S.-linked investor group won the rights to develop Ukraine’s Dobra lithium deposit, Kyiv said on Monday, a test case for drawing Western capital into a frontline economy while trying to deepen ties with Washington.
Ukraine awarded development rights for the Dobra site in the central Kirovohrad region to Dobra Lithium Holdings under a production sharing agreement, Prime Minister Yulia Svyrydenko said on the Telegram messaging app.
Dobra’s shareholders are TechMet and Rock Holdings, and the project is expected to attract at least $179 million of capital investment, including $12 million for exploration and an audit of reserves, Svyrydenko said.
TechMet is backed by the U.S. government, according to the U.S. International Development Finance Corporation, which says it is making equity investments to support TechMet’s critical-minerals supply-chain work.
The New York Times reported last week that Ronald S. Lauder, a billionaire friend of U.S. President Donald Trump, is among the investors.
Under the production-sharing deal, Dobra will develop one of Ukraine’s largest lithium resources and split output with the Ukrainian state. Lithium is a critical metal used for electric-vehicle batteries and other technologies.
The award lands as Kyiv searches for investment that can endure war-time risks, while also reinforcing ties with Washington as U.S. support remains central to Ukraine’s defence and reconstruction plans.
Ukraine’s economy has been battered by Russia’s full-scale invasion nearly four years ago, with damaged infrastructure, attacks on energy systems and logistics, and persistent security threats chilling private investment despite large flows of foreign aid.
Kyiv launched the lithium tender in August in what officials framed as the first project under a joint-investment fund with the United States, part of its efforts to keep Washington as an ally in its war against Russian forces.
That broader arrangement, promoted by Trump, gives the U.S. preferential access to new Ukrainian minerals deals and directs fund investment toward Ukraine’s reconstruction.
(Reporting by Lidia Kelly in Melbourne; Editing by Nia Williams and Bill Berkrot)
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