A joint US-Ukrainian reconstruction investment fund has completed its first deal in the critical minerals sector.
According to Report, this was announced to Reuters by Conor Coleman, head of the investment division at the US International Development Finance Corporation (DFC).
The fund is investing around $30 million in a joint investment platform with the Ukrainian BGV Group. In the initial phase, it will focus on early-stage mineral extraction projects, including deposits of rare-earth metals, uranium, beryllium and zirconium.
In addition to the deal in the minerals sector, the fund has announced four further new projects. The total volume of its investments has reached approximately $70 million.
Two of the projects are aimed at strengthening Ukraine’s energy infrastructure. In particular, one of them involves the development of a battery system to provide backup power for around 600,000 Ukrainian homes for up to two hours.
The fund was established under the US–Ukraine agreement on minerals, signed in April 2025. Its activities cover five strategic areas, including minerals, defence, energy and infrastructure.
