US mining firm TechMet looks to expand critical mineral footprint in Ukraine With Dobra project

TechMet, a mining company backed by US investors, is looking to develop a significant lithium project in Ukraine, potentially marking one of the first projects to emerge under the nearly finalized US-Ukraine minerals agreement.

The company’s CEO, Brian Menell, highlighted the “very significant” lithium resources at the Dobra site in central Ukraine, noting that TechMet had been evaluating the project since 2023, Caliber.Az reports, citing foreign media.

The US government is also a shareholder in TechMet, which adds another layer of significance to the venture.

While the minerals deal between Washington and Kyiv has yet to be finalized, Menell emphasized that TechMet’s interest in the Dobra project is not contingent on the deal. However, he acknowledged that if the agreement comes to fruition, it would increase the company’s interest, creating a framework to expedite and scale up development.

“We’re excited about the project regardless, but the minerals deal would certainly enhance our ability to move faster and do more,” Menell said.

TechMet’s investment partner in the Dobra project is Ronald Lauder, a billionaire and close associate of former President Donald Trump, who has been a vocal proponent of US efforts to secure critical resources like Greenland. TechMet itself is based in Dublin, valued at $1.2 billion, and part-owned by the US government. Its investor group also includes the Qatar Investment Authority, Mercuria, and Lansdowne Partners.

TechMet was established during Trump’s first term, with the US International Development Finance Corporation (DFC) becoming a shareholder. The company’s mission is to advance US and European interests in critical minerals while countering China’s dominance in the global supply chain.

The Dobra project is part of a larger set of lithium deposits in Ukraine, including Polokhivske and Shevchenko. However, Shevchenko lies within Russian-controlled territory. With rising global demand for lithium — especially due to its use in electric vehicle batteries — Ukraine’s rich mineral deposits are becoming more critical.

Since President Trump’s return to office in January 2025, increasing access to critical minerals, including those in Greenland and Ukraine, has been a key focus. Menell expressed optimism about the current administration’s readiness to take bold steps on the global critical minerals stage.

“It’s enormously valuable to have an administration that is much more willing to take bold actions, which the world and the country need in terms of critical minerals,” Menell said. “We want to play a big role in helping them move quickly and be more ambitious in securing the global supply chain.”

The US-Ukraine minerals deal aims to establish a development fund that would use future proceeds from mining projects to support Ukraine’s reconstruction efforts. Although the agreement was expected to be signed last month, it was delayed following a public clash between President Trump and Ukrainian President Volodymyr Zelenskyy in the Oval Office.

While Ukraine has yet to open the tender process for the Dobra lithium project, TechMet intends to bid for the license to develop the site, which would include building a lithium mine and processing facilities.

Menell added that TechMet is exploring other potential opportunities in Ukraine beyond lithium, including in titanium, uranium, and graphite. However, he cautioned that these projects would require significant time, investment, and management to succeed.

“All these critical mineral opportunities in Ukraine take time to develop,” he said. “We hope the minerals deal moves forward and is implemented effectively, though that will be a challenging task.”

By Tamilla Hasanova