WASHINGTON: US President Donald Trump said on Monday he wants Ukraine to supply the United States with rare earth minerals as a form of payment for financially supporting the country’s war efforts against Russia.
Trump, speaking to reporters at the White House, said Ukraine was willing, adding that he wants “equalization” from Ukraine for Washington’s “close to $300 billion” in support.
“We’re telling Ukraine they have very valuable rare earths,” Trump said. “We’re looking to do a deal with Ukraine where they’re going to secure what we’re giving them with their rare earths and other things.”
“We’re putting in hundreds of billions of dollars. They have great rare earth. And I want security of the rare earth, and they’re willing to do it,” he said.
The US has only one operating rare earths mine and very little processing capacity, although several companies are working to develop projects in the country. China is the world’s largest producer of rare earths and many other critical minerals.
It was not immediately clear if Trump was using the term “rare earths” to refer to all types of critical minerals or just to rare earths.
Rare earths are a group of 17 metals used to make magnets that turn power into motion for electric vehicles, cellphones and other electronics. There are no known substitutes.
The US Geological Survey considers 50 minerals to be critical for the country’s economy and national defense, including several types of rare earths, nickel and lithium.
Ukraine contains large deposits of uranium, lithium and titanium, although none are considered to be among the world’s five biggest by volume and the US has its own untapped reserves of those and other critical minerals.
The US has only one operating rare earths mine and very little processing capacity, although several companies are working to develop projects in the country. China is the world’s largest producer of rare earths and many other critical minerals.
Trump, who had previously said he’d bring about a rapid end to the war, said talks are ongoing to bring the conflict to a close. But he complained that the US had sent more in military and economic assistance to Ukraine than its European partners.
“We made a lot of progress on Russia, Ukraine,” Trump said. “We’ll see what happens. We’re going to stop that ridiculous war.”
Ukrainian President Volodymyr Zelensky told the Associated Press on Saturday that any negotiations between the US and Russia but without his country were unacceptable.
“They may have their own relations, but talking about Ukraine without us — it is dangerous for everyone,” Zelensky said.
He said his team has been in contact with the Trump administration, but those discussions are at a “general level,” and he believes in-person meetings will take place soon to develop more detailed agreements.
“We need to work more on this,” Zelensky said.
German Chancellor Olaf Scholz said Trump’s latest demand from Ukraine "would be very selfish, very self-centered.”
Such resources would be better used for the country’s reconstruction after the war, Scholz added.
