The US is too late: 2,268 companies can already mine Ukrainian minerals
2 April 08:49
In Ukraine, 2,268 companies and 78 individuals have the right to use subsoil. This is evidenced by the data of a new YouControl study, informs
YouControl R&D center analysts analyzed the List of Special Permits for Subsoil Use of the State Service of Geology and Subsoil of Ukraine, which contains data on special permits for use with the owner, name of the mineral, terms of issuance and completion.
Who has the most special permits
In total, 2,268 companies and 78 individuals have 3,482 valid special permits for the use of Ukrainian subsoil. Most of the companies holding such special permits have one valid permit each, but there are a number of companies that have several hundred or dozens of them. For example, state-owned JSC Ukrgasvydobuvannya (213 permits) and PJSC Ukrnafta (89 permits).
SCM (39), Smart Holding (17), Zakhidnadraservice (13), Eastvan (12), and ATB (11) have more than 10 legal entities with special permits for the use of mineral resources.
Foreigners are also involved in the use of Ukrainian subsoil
The co-owners of 351 companies are legal entities or individuals with a place of registration/citizenship in foreign countries. The ownership structure of these companies includes representatives from 51 countries.
The largest number of co-owners of companies that have special permits for subsoil use are from Cyprus (137), the Netherlands (34), Switzerland (24), the United Kingdom (23), Germany (21), the Czech Republic (16), the United States (14), Turkey and the Seychelles (13 each), Austria (12) and Belize (10).
Which companies control Ukrainian mineral resources
According to the analysis of the List of Special Permits for Subsoil Use (including oil and gas subsoil use), 39 companies have special permits for 16 out of 50 critical minerals in Ukraine. Some companies have special permits for the use of several critical mineral resources at once.
Private companies of corporate groups, such as Group DF, ATB, ONUR, and the Yakymenko Family Group, hold special permits for the extraction of strategic minerals, including titanium, zirconium, graphite, niobium, and chromium.
A significant portion of the special permits are concentrated in the hands of corporate groups with influential key individuals or individuals under sanctions. For example, Dmytro Firtash’s group holds permits for titanium, vanadium, scandium and zirconium mining, while companies associated with Ihor Kolomoisky have special permits for manganese ore mining.
As you know, the current U.S. administration is also claiming Ukrainian minerals. Moreover, the United States is seeking to establish significant control over Ukrainian infrastructure investments as well.
Ukraine has been offered a new version of a partnership agreement, which raises concerns about the country’s economic sovereignty and its future prospects for membership in the European Union. The draft agreement grants the United States a “right of first refusal” for investments in Ukrainian infrastructure and natural resources, effectively giving it a veto over other potential investors, including European partners. European leaders have already spoken out against the agreement, perceiving it as an attempt to sideline EU interests.
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