**Russia Takes Control of Ukraine’s Lithium Deposits Amid Summer Offensive**
In a worrying development for Ukraine, Russian troops have taken control of one of the country’s most valuable lithium deposits near the village of Shevchenko in Donetsk Oblast. The site, which contains an estimated 11 to 14 million tons of ore rich in lithium, is now under Russian occupation.
While Ukrainian forces continue to fight around the village, with troops on the western outskirts and Russian forces on the eastern side, the lithium deposit remains a prize for Russia’s summer offensive. According to Roman Pohorilyi, founder of open-source mapping project Deep State Map, Ukrainian troops control territories near the site, but the deposit itself is now under Russian control.
Lithium, used in electric vehicle batteries, is one of the key critical raw materials highlighted by the U.S. in its agreement with Ukraine signed on April 30. The deal aimed to attract investment to Ukraine’s strategic resources, including its untapped lithium reserves. However, despite Ukraine’s apparent loss of the deposit, it is unlikely to have an impact on the agreement.
**Impact on Agreement Minimal**
According to Serhii Fursa, deputy managing director at investment firm Dragon Capital, the reported Russian takeover of the deposits will not significantly affect the agreement between Ukraine and the U.S. “It was obvious that it was under huge risk of occupation and nobody assumed it would be a good asset for any kind of deal,” he said.
Ukraine now has only two out of four lithium deposits left, both located in central Ukraine. The Shevchenko deposit is smaller compared to the larger deposit, which holds an estimated volume of 11 to 14 million tons of ore rich in lithium. This unique mineral, known as spodumene, contains 90% lithium and is easy to extract.
**Growing Demand for Lithium**
Demand for lithium is increasing globally, with Australia and China topping the list of producers. Ukraine holds one-third of the European Union’s reserves and approximately 3% of global lithium reserves. As a result, losing control of its lithium deposits could have significant implications for Ukraine’s economy in the long run.
**Kyiv Independent**
Read more about this story on Kyiv Independent: **Loss of Lithium Deposit Won’t Impact Minerals Deal, Says Investor**
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