Ukraine Auctions Titanium Deposits After Stripping Businessman's Rights

Ukraine is set to auction three titanium ore deposits after revoking extraction rights from businessman Dmytro Firtash, who was sanctioned by Kyiv. The initiative will see the exploration of the Malyshevske, Valky-Hatskivske, and Mezhyrichne sites through open auctions, alongside reviewing other dormant permits.

Prime Minister Yulia Svyrydenko announced Tuesday that Ukraine will proceed with auctioning three titanium ore deposits after reclaiming extraction rights from fugitive businessman Dmytro Firtash.

Svyrydenko shared on social media that the previously sanctioned exploration rights to the Malyshevske field in Dnipropetrovsk and the Valky-Hatskivske and Mezhyrichne sites in Zhytomyr are now revoked. The government is inviting open auctions for businesses to acquire new exploration permits.

This decision is part of a larger review by Ukraine's state geological service, examining 38 permits suspected of inactivity. Additionally, Kyiv has solidified a mineral resources agreement with Washington, fostering a joint U.S.-Ukraine investment fund identifying over 20 prospective projects.

(With inputs from agencies.)