Trump Says US Will Sign Ukraine Minerals Deal ‘Very Shortly’

‘One of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine,’ Trump told reporters at the White House.

(Left) U.S. President Donald Trump on Feb. 22, 2025. (Right) Ukraine's President Volodymyr Zelenskyy on Feb. 12, 2025. Alex Wroblewski and Tetiana Dzhararova/AFP via Getty Images

President Donald Trump said on March 20 that the United States expects to sign a minerals and natural resources deal with Ukraine “very shortly,” following delays.

Trump made the comments during a White House event after signing an executive order to boost domestic mining and production of critical minerals as well as uranium, copper, potash, and gold.

Washington and Kyiv previously planned to sign a minerals deal on Feb. 28. The deal was derailed when Ukrainian President Volodymyr Zelenskyy’s White House meeting with Trump and Vice President JD Vance devolved into a heated argument.

Speaking to reporters at the White House, Trump said the deal was now back on track.

In addition to increasing domestic production of critical minerals, Trump said the United States is also signing agreements in “various locations” across the globe to unlock rare earths and minerals, key components in the manufacturing of modern technology including smartphones and electric vehicles.

“In particular, Ukraine, we’re doing very well with regard to Ukraine and Russia,” Trump said. “One of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine, they have tremendous value in rare earths and we appreciate that.”

Trump also referred to his discussions this week with both Russian President Vladimir Putin and Zelenskyy regarding the ongoing Russian invasion, which first began in 2022.

Both leaders have tentatively agreed to a cease-fire agreement that would see the two nations refrain from attacking each other’s energy infrastructure for 30 days.

“We would love to see that come to an end and I think we’re doing pretty well in that regard,” Trump said. “Hopefully we could save thousands of people a week from dying. That’s what it’s all about. They’re dying so unnecessarily, and I believe we‘ll get it done. We’ll see what happens, but I believe we'll get it done.”

In signing an executive order increasing American production of such minerals, Trump invoked emergency powers under the Cold War-era Defense Production Act (DPA), which essentially gives the Pentagon a wide berth to procure equipment necessary for national defense.

The DPA is a 1950 law that former President Harry Truman deployed to ramp up steel production for the Korean War. Former President Joe Biden also invoked the law to encourage domestic production of critical minerals.

Trump’s order directs federal agencies to create, within 10 days, a list of U.S. mines and federal lands that can be quickly approved for mineral processing.

It declares that the United States “possesses vast mineral resources that can create jobs, fuel prosperity, and significantly reduce our reliance on foreign nations,” and that such minerals are important for everything from transportation, infrastructure, and defense capabilities.

“The United States was once the world’s largest producer of lucrative minerals, but overbearing Federal regulation has eroded our Nation’s mineral production,” it states. “Our national and economic security are now acutely threatened by our reliance upon hostile foreign powers’ mineral production.  It is imperative for our national security that the United States take immediate action to facilitate domestic mineral production to the maximum possible extent.”

As part of negotiations to end the war between Russia and Ukraine, the Trump administration had proposed having access to $500 billion worth of deposits of rare earths and critical minerals in Ukraine in exchange for continued military support.

Currently, China is the world’s largest producer or processor of many critical minerals.

In contrast, the United States produces very little lithium and nickel, and its only cobalt mine shuttered last year amid intense Chinese competition.

While America is home to multiple copper mines, it only has two primary smelters to process the red metal into pipes, wiring, and other components. It also has just one mine for rare earths, which are used to make magnets that turn power into motion.

Reuters contributed to this report.