Ukraine possesses significant reserves of critical raw materials, positioning itself as a potential leader in global resource markets. According to Oleksandr Kubrakov, co-founder of We Build Ukraine, these resources could not only drive economic growth but also integrate Ukraine into global supply chains. However, Kubrakov identifies key challenges within the subsoil use industry, including outdated reporting standards, cumbersome land acquisition procedures, and limited access to digitized geological data.
To attract investment, Kubrakov advocates aligning mineral reserve reporting with international norms and leveraging AI for digital transformation. He underscores the need for robust infrastructure development and localized processing to produce high-value goods, such as electric vehicle components and titanium products for medical use.
Ukraine’s resource wealth is globally significant: it ranks fourth in manganese ore reserves, fifth in iron ore, and eighth in coal. By modernizing its extraction and production capabilities, Ukraine could transition from a raw material supplier to a major player in the global market for advanced industrial products.
