Ukraine to extend PSA regime to strategic vanadium, lithium, titanium, uranium deposits

MOSCOW. Feb 15 (Interfax) - Deposits of vanadium, lithium, titanium, uranium and salt that are of strategic importance for the sustainable development of Ukraine's economy will be offered for development under the terms of production sharing agreements (PSA), Ukrainian media reported, citing statements made by Prime Minister Denis Shmygal at a government meeting on Tuesday.

The Cabinet's representative to parliament, Taras Melnichuk posted a recording of Shmygal's opening statements at the meeting on his Telegram channel.

A list of such mineral resource deposits has been approved, the prime minister said.

"Twenty-six deposits will be offered for use on the conditions of production sharing agreements. This will create broad possibilities for the investor in the implementation of a project, and the state will receive its share, which will be used for the development of the economy," Shmygal said.

Until recently, the few PSAs that Ukraine had were granted only for oil and gas fields and the approval process took quite a long time.