Ukraine’s abundant deposits of critical raw materials could serve as a key driver for its economic growth and global market integration, according to We Build Ukraine co-founder Oleksandr Kubrakov.
Kubrakov points out that the current closed nature of Ukraine’s mining sector poses a major challenge for investors. He recommends several reforms: aligning Ukraine’s mineral reporting standards with international frameworks, streamlining land acquisition for mining operations, and introducing industry incentives. He also emphasizes the need to digitize geological data, particularly through AI technology, to make it more accessible.
Beyond just extraction, Kubrakov envisions developing comprehensive value chains – from building infrastructure to establishing local processing facilities and manufacturing finished products, such as electric vehicle components and medical-grade titanium items.
The country holds impressive positions globally in terms of mineral reserves, ranking eighth in coal, fifth in iron ore, and fourth in manganese ore (a crucial element in glass, ceramic, and steel production).
