• Ukraine's president reveals ongoing changes to proposed US minerals agreement
  • Deal excludes nuclear power plants despite earlier suggestions
  • Signing could happen as early as next week, but terms remain in flux

Evolving Negotiations

President Volodymyr Zelenskiy confirmed Thursday that US negotiators have been 'constantly' altering terms of a proposed minerals agreement that could unlock Ukraine's vast resource wealth. The latest version, described as 'large and comprehensive' by Ukrainian officials, represents at least the third significant revision since initial discussions began earlier this year.

Speaking to reporters in Kyiv, Zelenskiy emphasized that nuclear power plants were explicitly excluded from the current draft, putting to rest speculation fueled by comments from former US President Donald Trump. 'This is purely about our mineral resources,' a senior Ukrainian official familiar with the talks confirmed.

Strategic Stakes

The deal would give US investors access to Ukraine's estimated $12 trillion in mineral deposits, including rare earth elements critical for defense and technology applications. Treasury Secretary Scott Bessent suggested a signing could occur next week, though multiple sources cautioned the timeline remains fluid given the sensitive nature of ongoing revisions.

'Every time we think we're close, new language appears,' said one Ukrainian negotiator who asked not to be named due to the sensitivity of discussions. The original framework called for Ukraine to contribute 50% of proceeds from state-owned resource extraction, but financial terms in the latest draft haven't been disclosed.

Implementation Challenges

Even if finalized, analysts note significant hurdles remain before any meaningful extraction could begin. 'Between outdated geological surveys, damaged infrastructure and active combat zones, this is more about future potential than immediate gains,' said commodities strategist Marko Petrenko of Concorde Capital.

US officials view the agreement as both an economic opportunity and strategic move to reduce dependence on Chinese minerals. For Ukraine, it represents potential wartime revenue streams and postwar reconstruction funding. But with negotiations still evolving, neither side appears ready to declare final terms just yet.