Ukraine Awards Major Lithium Project to Investors With Links to Trump

Ukraine on Thursday awarded a bid to mine a major state-owned lithium deposit to investors that include a billionaire friend of President Trump, as his administration has indicated it is looking for investment opportunities in the war-torn country.
The decision was made by a Ukrainian government commission, according to two commission members who spoke on condition of anonymity because of the sensitive nature of the vote. While it still requires formal approval from Ukraine’s cabinet of ministers, the officials said the deal was essentially sealed.
The winning consortium is closely connected to the Trump administration. It includes Ronald S. Lauder, a cosmetics heir who has known Mr. Trump since college and planted the idea in his mind of buying resource-rich Greenland. The other investor is TechMet, an energy firm partly owned by a U.S. government investment agency created during Mr. Trump’s first term.
The two commission members said the winning consortium outpaced competitors by meeting most bidding criteria, dismissing any suggestion of favoritism. Still, by cultivating ties with investors connected to Mr. Trump and his administration, Kyiv is positioning itself favorably with the American leader just as it seeks its backing in peace talks with Russia, building on efforts to appeal to his business-oriented mind-set.
A representative for Mr. Lauder and TechMet did not immediately respond to a request for comment.
Since Mr. Trump returned to power, the U.S.-Ukrainian alliance has taken on a mercantile character, with Washington halting most military aid to Kyiv and focusing instead on opportunities to profit from investments and weapons sales. Ukrainian officials have adapted, offering potentially lucrative deals in mineral extraction and weapons production.
The transactional nature of the new U.S.-Ukraine relationship is evident in a draft peace plan under negotiation between Kyiv and Washington. The plan includes provisions about a postwar reconstruction plan that President Volodymyr Zelensky has valued at $800 billion and that he has said would create opportunities for American businesses.
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