US-Ukraine mineral deal is back on, to be signed next week, Trump says

WASHINGTON — The US and Ukraine will finally sign a long sought-after mineral rights agreement next week after months of negotiations, according to officials from both countries.

President Trump announced in the Oval Office Thursday that an agreement had been reached, estimating that it would be formalized April 24 at a location to be determined later.

In a little-noticed series of X posts early Wednesday, Ukrainian Minister of the Economy Yulia Svyrydenko announced that “a positive new step has been made in the ongoing progress with the United States on the Economic Partnership Agreement and the creation of an investment fund for the reconstruction of Ukraine.”

“Our technical teams have worked very thoroughly together on the agreement, and there is significant progress. Our legal staff has adjusted several items within the draft agreement,” Svyrydenko added “Thank you to the negotiators on both teams.”

“We have now agreed with the American side to record this progress in the relevant memorandum of intent. We are preparing to complete the formalization of the agreement in the near future.”

Ukraine holds large deposits of more than 20 minerals the US has deemed critical, including titanium, lithium, and uranium — all of which are necessary for the American military, energy, and nuclear power sectors.

A mineral deal was nearly signed on Feb. 28 during Ukrainian President Volodymyr Zelensky’s visit to the White House, but the agreement was briefly taken off the table after an explosive argument between Trump, Zelensky and Vice President JD Vance in front of dozens of reporters in the Oval Office.

That arrangement’s terms held that Ukraine would allocate 50% of future revenues generated from key national assets — including minerals, hydrocarbons, oil, natural gas, and other resources — to a joint fund.

While details on the new deal were sparse on Thursday, US Treasury Secretary Scott Bessent said the new arrangement is “substantially what we agreed upon previously.”

Zelensky, 47, has repeatedly expressed willingness to sign a framework deal — so long as it is not viewed as repayment for previously gifted military aid. The partnership is in part designed to help win Trump’s favor and reinvigorate America’s support against the Russian invasion.

The Trump administration has made mineral security a key aim over the past several months, pursuing potential deals in Greenland and the Democratic Republic of Congo as top adversary China holds a stark advantage in access to rare earth minerals.

The agreement could also work to help Ukraine restore its economy once Russia finally ends its assault on the country.