Razom We Stand launches a new analytical paper, Critical Minerals Governance Risks and Conflict Prevention in Ukraine, examining the growing strategic importance of critical minerals for Europe’s energy security and Ukraine’s potential role in diversifying European supply chains.
Demand for minerals used in energy technologies is growing at nearly 10% per year, compared with around 1% for base metals, while global battery demand has risen by more than 35% in 2025, exceeding 1.5 TWh. At the same time, the EU remains heavily dependent on China, sourcing 100% of its heavy rare earth elements and 98% of finished rare earth magnets from China. Ukraine, which holds deposits of 25 of the EU’s 34 critical raw materials, could play an important role in strengthening Europe’s supply security.
Ukraine’s mineral wealth, however, comes with significant governance, environmental and social risks. The country has an estimated 8.4 million tonnes of titanium reserves, 17.9 million tonnes of natural graphite reserves and roughly 140 million tonnes of manganese reserves. Yet critical raw materials have accounted for only 0.14–0.27% of Ukraine’s exports to the EU over the past decade, highlighting the gap between geological potential and actual supply. The paper examines this gap alongside wartime decision-making, regulatory weaknesses, environmental concerns and community opposition.
To inform Ukraine’s path forward, the paper also analyses international experiences from four countries: Colombia, Serbia, the Democratic Republic of the Congo and Sweden. Drawing on these experiences, the paper identifies key lessons for Ukraine as it shapes its own approach to critical minerals.
The paper argues that responsible mineral governance is not an obstacle to European security of supply, but a precondition for it. With decisions made today potentially determining who benefits from Ukraine’s mineral wealth in the 2040s and 2050s, transparent governance, environmental safeguards, meaningful community participation and strong legal frameworks will be essential to prevent new conflicts and ensure that critical minerals contribute to Ukraine’s sustainable reconstruction and Europe’s long-term energy security.
Read our analytical paper, Critical Minerals Governance Risks and Conflict Prevention in Ukraine, to explore the key risks, challenges and recommendations for responsible mineral governance.
