US President Donald Trump has expressed optimism that Ukraine will soon consent to a proposed mineral agreement, allowing American investment in the country's substantial reserves of rare earth elements.
Speaking to reporters at the Oval Office, Trump indicated that the deal could help offset certain US defence expenditures, reports the Voice of America.
"We are hopeful that within a short span, a deal will be signed, ensuring the return of $400–500 billion," he stated.
Trump administration recently proposed the mineral deal as part of broader discussions aimed at ending the war in Ukraine.
The country possesses abundant natural resources, including critical elements essential for manufacturing weapons, electric vehicles, and high-tech equipment.
These minerals, which are rare and difficult to extract, are also found in China, making them strategically significant as the West seeks to reduce dependence on Beijing.
According to reports, discussions regarding the mineral deal emerged following a heated exchange last week between Trump and Ukrainian President Volodymyr Zelensky.
Trump suggested that Ukraine initiated the war with Russia, prompting Zelensky to retort that the US president was living in a world of "Russian propaganda and misinformation."
In response, Trump took to his Truth Social platform to label Zelensky a "dictator who remains in power without an election."
The global market comprises 17 types of rare earth elements, and Ukraine holds vast reserves of graphite, lithium, titanium, beryllium, and uranium—minerals that are of considerable importance to the US, given its limited supply.
The strategic significance of these resources has drawn heightened interest from Washington and its allies as they seek to counterbalance China’s dominance in the sector.
