Does Ukraine need a lithium industry?

Since Ukraine is one of the few countries with large lithium reserves (according to estimates, up to 10% of world reserves) and is in dire need of resources for economic development, conversations about the prospects for the development of the lithium industry have become noticeably more frequent.

Is lithium a popular metal in Ukraine?

Here is his opinion: Lithium is a popular and sought-after metal, and we have four explored deposits in Ukraine: Polokhivske, Dobra, Shevchenkivske, and Kruta Balka. However, each of them has particular challenges. Let’s start with the largest one, Polokhivske, in the Kirovohrad region. The deposit itself is pretty extensive, with three ore bodies.

Why is Ukraine not Mining lithium?

There are various reasons, from technical difficulties to fighting on the front line. The AIN.Capital editors asked Yevhen Naumenko, a researcher at the geological department of the National Museum of Natural History of the National Academy of Sciences of Ukraine, why Ukraine has so far not been mining lithium.

How long does it take to mine lithium in Ukraine?

The Ukrainian lithium mining procedure includes the following stages: carrying out geological exploration of deposits according to international standards to confirm data from the times of the USSR. It will take 3–5 years and $10–15 million for one deposit.

Are electric cars driving up Lithium prices?

And according to the WSJ, demand for electric cars is also driving up lithium prices. Ukraine has several explored deposits of this metal ore, and its volumes can reach millions of tons, but it has yet to be mined. There are various reasons, from technical difficulties to fighting on the front line.

Is European lithium the world's largest lithium supplier?

In November, European Lithium, an Australian firm, said it was in the process of securing rights to two promising lithium deposits in the Donetsk region, in eastern Ukraine, and Kirovograd, in the center of the country. The company said at the time it aimed to become Europe’s largest lithium supplier.