US firms eye investments after landmark minerals deal, says AmCham chief

American companies are stepping up interest in Ukraine’s critical minerals following a groundbreaking agreement between Kyiv and Washington, said Andy Hunder, President of the American Chamber of Commerce in Ukraine. 

He shared his insights in an interview with BBC Radio 4, commenting on the recent minerals agreement between Ukraine and the U.S.

“I’m in Washington [D.C.] next week, and we’re already sitting down. We’re seeing which companies could be of interest. And, as in any business, it’s like matchmaking — you have the investor, and then you need to understand who the partner is on the Ukrainian side,” Hunder said.

European companies are also keen on investing in Ukraine, he said.

“[Recently] I spoke with a senior government minister from another country who has vast experience in mining. They’re interested and have amazing technology, particularly satellite technology for exploration, which can help identify land where, especially, lithium is located. So, we are seeing interest,” Hunder said.

The historic agreement between the U.S. and Ukraine is mutually beneficial, Hunder told BBC Ukraine.

“Ukraine and American businesses need each other. The rapid technological advancement requires the critical minerals that Ukraine has. Today, 54 essential elements for this business were mentioned,” he said.

This agreement is paramount for Ukraine, as it opens the door to investment and strengthens the country’s economy, Hunder said.

“Currently, Ukraine’s GDP [the total sum of all goods and services produced] is around $200 billion. If it grows by 6 percent annually over the next 15 years, it could reach …$500 billion. This is significant, and today’s agreement paves the way for that possibility,” he said.

While investors are mindful of risks and currently focus on areas controlled by Ukraine, they see substantial potential in the critical minerals sector, Hunder said.

“It’s risky to invest in Ukraine, but it’s even riskier not to invest in Ukraine,” he said.

Listen to the full interview via this link.