Trump wants 50% US ownership of Ukraine's rare earth minerals: report

ISTANBUL (AA) – The Trump administration proposed that the US receive a 50% ownership stake in Ukraine’s rare earth minerals as compensation for the military and financial aid provided to Kyiv to fight Russia, NBC News reported, citing multiple US officials familiar with the matter.

Under the proposal, Ukraine would transfer partial control of its valuable mineral resources to Washington rather than make financial repayments, two officials said.

The plan also includes the possibility of deploying American troops to safeguard these assets, contingent on a diplomatic resolution with Russia.

Treasury Secretary Scott Bessent reportedly presented the proposal to Ukrainian President Volodymyr Zelenskyy during a meeting in Kyiv on Wednesday. According to eight US officials briefed on the discussions, Bessent handed Zelenskyy a draft contract outlining the proposed agreement.

Following the meeting, Bessent characterized the draft as aligned with the president’s goal, but did not disclose further details about what the administration had proposed.

Zelenskyy did not sign the agreement during the meeting, instead saying that he needed time to study it and consult with others.

The Ukrainian Embassy in Washington and a spokesperson for the White House National Security Council did not immediately respond to requests for comment.

President Donald Trump had earlier said that Ukraine should provide the US with its rare earth minerals in exchange for Washington’s continued support in the war against Russia.

Trump complained that the US is providing Ukraine with more economic and military aid than Europe and suggested Kyiv is open to his proposal.

“We’re telling Ukraine they have very valuable rare earth (minerals). . . . We want a guarantee. We’re handing them money hand over fist,” he said. “I want to have security of rare earth. We’re putting in hundreds of billions of dollars. They have great rare earth, and I want security of the rare earth (minerals). And they’re willing to do it.”

Ukraine is sitting on massive reserves of critical rare earth minerals. It holds about 5% of the world’s total of mineral resources, according to a 2024 World Economic Forum report.

In addition to having one of the largest confirmed reserves of lithium, Ukraine boasts semiconductor-grade neon gas that is critical for chip production, beryllium, uranium, zirconium, apatite, iron ore and manganese.