Rich People Trades
  • Business
  • World News
  • Politics
  • Investing
  • Business
  • World News
  • Politics
  • Investing

Rich People Trades

Investing

Ukraine Invites Australian Miners to Invest in Resources Amid US Commitment Concerns

by admin March 7, 2025
March 7, 2025
Ukraine Invites Australian Miners to Invest in Resources Amid US Commitment Concerns

Vasyl Myroshnychenko, Ukraine’s ambassador to Australia, is appealing to Australian miners to invest in Ukraine’s resource sector amid heightening tensions between the US and Ukraine

The request comes as Ukraine seeks ways to fund its three year defense against Russia’s invasion, an effort that became more dire this week as US President Donald Trump paused all aid to the country on Monday (March 3).

The US head of state made the decision after negotiations between the two countries broke down on February 28 while Ukrainian President Volodymyr Zelenskyy was visiting the White House to pen a deal regarding mineral rights for US security.

During the televised meeting between Trump, US Vice President JD Vance and Zelenskyy, a heated exchange ensued, turning the formal conversation into finger pointing and a series of accusations.

Ukraine welcomes Australian mining investment

According to the Nightly, Myroshnychenko said Russia is looking to break the bond between the US and Europe.

“If Russia achieves what they want, that would be a world of chaos … where might is right, where the stronger one will have the power and in this world, Australia has no chance of surviving,’ he said.

“There is a moral argument in terms of security, democracy and helping Ukraine, helping the underdog who’s been bullied; it’s all valid but I think we have to talk about money,” Myroshnychenko continued.

He opened the invitation to non-mining companies as well, noting, “This is an opportunity for Australian companies, for mining companies, to come and invest in Ukraine together with American companies.”

Australia’s support of Ukraine

Australia and Ukraine have a long history of cooperation and allyship.

The country supplied uranium to Ukraine in 2016 via an agreement where Ukraine joined other countries in a pact with Australia, ensuring that uranium obtained from Australia is designated strictly for peaceful uses.

A Nuclear Cooperation Agreement with Ukraine was announced in 2017 by Julie Bishop, then the country’s foreign affairs minister, enabling Australia to export uranium to Ukraine and enhance cooperation between the countries on activities such as nuclear safeguards, security, safety and science.

During Ukraine’s defense against Russia, Australia has assisted Ukraine by offering cash and resource support.

In 2022, the Australian mining sector and the federal government joined hands in offering donations.

Australian Resources & Investment notes said that Whitehaven Coal (ASX:WHC,OTC Pink:WHITF) produced 70,000 tonnes of thermal coal to be donated to Ukraine to support its energy security.

Major miners BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Newmont (TSX:NGT,NYSE:NEM) and Anglo American (LSE:AAL,OTCQX:AAUKF), each donated US$5 million at the time for humanitarian relief.

Last October, the Australian government gifted 49 M1A1 Abrams tanks to Ukraine to assist in its fight against Russia’s invasion. This donation was valued approximately AU$245 million.

On the third anniversary of Russia’s full-scale invasion of Ukraine, an announcement by Senator Penny Wong said Australia’s military assistance to Ukraine during that time amounts to over AU$1.3 billion.

In total, the support is valued at over AU$1.5 billion.

“Australia has now imposed a total of more than 1,400 sanctions in response to Russia’s full-scale invasion of Ukraine,” Wong said. “Working with Ukraine and our partners, Australia supports a just and lasting peace for Ukraine.”

Australia seeking rare earths independence

While Myroshnychenko invited broad investment in Ukraine’s resource sector, rare earths may be of special interest to Aussie miners as the country makes moves toward rare earths supply independence.

These include strategies from both the government and mining companies such as Lynas Rare Earths (ASX:LYC,OTC Pink:LYSCF), a leading producer of rare earth materials outside of China.

Lynas owns the recently opened Kalgoorlie rare earths processing facility in Western Australia, the country’s first rare earths processing facility and the largest facility outside China.

On February 12, the Australian government passed the Critical Minerals Production Tax Incentive, which will provide a refundable tax credit on 10 percent of eligible costs associated with the production of critical minerals and rare earths.

Federal Resources Minister Madeleine King said the incentives are valued at AU$7 billion over the decade.

“The passing of this legislation is a historic moment for the resources industry and a big deal for resource states like Western Australia and Queensland,” she explained. “By processing more of these minerals here in Australia we will create jobs and diversify global supply chains.”

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Supplementary Bidder’s Statement
next post
ELEMENT79 Announces Revocation of MCTO

Related Posts

Lahontan Announces Upsize to Private Placement of Units

April 23, 2025

Tech 5: Apple to Invest US$500 Billion in...

March 2, 2025

Trump Admin Fast Tracks Anfield’s Velvet-Wood Uranium Project...

May 16, 2025

3 Things Warren Buffett Has Said About Gold

May 6, 2025

Collaboration with DuPont Water Solutions to Test Lithium...

April 17, 2025

Lahontan Announces Closing of Upsized Private Placement of...

May 1, 2025

Deadly Illegal Gold Mine Collapse in Mali Kills...

February 18, 2025

NorthStar Gaming Announces Delay of Annual Filings

April 30, 2025

Top 10 Aluminum-producing Countries

February 19, 2025

Letter from the CEO: Unlocking the True Value...

March 27, 2025

    Join our mailing list to get access to special deals, promotions, and insider information. Your exclusive benefits await! Enjoy personalized recommendations, first dibs on sales, and members-only content that makes you feel like a true VIP. Sign up now and start saving!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Editors’ Picks

    • 1

      First lady Melania Trump’s new official portrait revealed

      January 28, 2025
    • 2

      Health experts prep Dem lawmakers on anti-vaccine arguments ahead of RFK Jr’s confirmation hearings

      January 28, 2025
    • 3

      ECOWAS pledges to ‘keep door open’ after 3 coup-hit West African nations exit regional bloc

      January 30, 2025
    • 4

      Vale Launches Strategic Review of Thompson Nickel Operations Amid Market Challenges

      January 28, 2025
    • 5

      American fighters are dying in Ukraine in growing numbers. Bringing their bodies home is a complex task

      January 30, 2025
    • 6

      Scorched-earth Shanahan: RFK Jr’s former running mate threatens political war against confirmation opponents

      January 30, 2025
    • 7

      Coral bleaching on Australia’s Great Barrier Reef reaches ‘catastrophic’ levels, study finds

      January 23, 2025
    • About us
    • Contacts
    • Privacy Policy
    • Terms and Conditions
    • Email Whitelisting

    Disclaimer: richpeopletrades.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2025 richpeopletrades.com | All Rights Reserved