Ukraine awards Dobra lithium field to consortium including Ronald Lauder

Ukraine’s government commission has awarded a bid to develop the Dobra lithium field in central Ukraine to a consortium that includes Ronald S. Lauder, a billionaire friend of President Trump, two commission members who spoke on condition of anonymity said.

The winning group also includes TechMet, an energy firm partly owned by a U.S. government investment agency created during Mr. Trump’s first term. The commission members said the consortium outpaced competitors by meeting most bidding criteria and that the decision, while still requiring formal approval from Ukraine’s cabinet, was essentially sealed. The award comes as the Trump administration has indicated interest in investment opportunities in Ukraine and as Kyiv seeks to deepen business ties with American partners.

Under a U.S.-Ukraine minerals deal signed last spring, half of the revenue Ukraine receives from Dobra will go to a joint U.S.-Ukraine investment fund, and projects seeking additional investors must be presented to that fund. It remains unclear how much Mr. Lauder and TechMet have committed to invest; the tender set a $179 million minimum, and a commission member said the consortium’s pledge was significantly higher. The consortium must still complete geological surveys and secure financing and infrastructure before extraction can begin, a process industry experts say typically takes about 15 years.

Key Topics

World, Dobra Lithium Field, Ronald S. Lauder, Techmet, Ukraine, U.s.-ukraine Minerals Deal