Ukraine and the USA are close to finalizing an agreement on rare earth minerals, according to Shmyhal.

Ukraine and the USA have effectively finalized the agreement regarding rare earth minerals. As of today, it is titled "Agreement on the Establishment of Rules and Conditions for the Investment Fund for the Reconstruction of Ukraine."

This was reported by Ukraine's Prime Minister Denys Shmyhal during a national telethon.

According to Shmyhal, this is a preliminary agreement that will establish the terms of investment between Ukraine and the USA. Ukraine's contribution will be a share, specifically 50%, of future revenues from licenses for mineral resources and metal extraction.

"In essence, this is a preliminary agreement that implies legal action. This will lead to the creation of an investment fund for the reconstruction of Ukraine, which Ukraine and the USA will jointly manage and fund," Shmyhal explained.

He noted that the agreement is directly tied to security guarantees for Ukraine, and neither President Volodymyr Zelensky nor the Cabinet will consider it without these guarantees.

"In the preamble of the agreement, it is clearly stated that, taking into account the desire of the American people to invest alongside Ukraine in a free, sovereign, and secure Ukraine, this marks the beginning of this agreement. I quote the text directly, and it is crucial for us to understand the purpose of this agreement. The security aspect of this agreement is the number one priority for our country, for the government, and for the president," the Prime Minister said.

The agreement references the Budapest Memorandum, highlighting Ukraine's contribution to international security by relinquishing the third-largest nuclear arsenal in the world.

It is expected that the document will be reviewed by the Ukrainian government and finalized during negotiations between the presidents of Ukraine and the USA.

Background. Earlier, Mind reported that the new draft agreement on mineral resources between Ukraine and the USA contains provisions that raise certain concerns, particularly regarding security guarantees.