Economist names the value of Ukrainian minerals
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Economist Oleh Ustenko commented on estimates of the value of Ukrainian minerals. According to him, the price for rare earth minerals can reach up to $3-5 trillion.
Ustenko said this on the air of Den.LIVE on Wednesday, April 9.
Economist on the cost of mineral resources in Ukraine
Ustenko explained that it would cost about $1 million per square kilometer to scan Ukrainian land and find out what minerals are there.
The economist explained that the maps of Ukraine's subsoil, which are now worth trillions, were made in the 50s and 60s. Therefore, all estimates regarding the value of the deposits are highly speculative.
"Indeed, we need to continue the negotiation process, there are many unknown factors. When did this geological exploration take place, when were these maps created in the first place? The maps were created back in the 50s and 60s, when there were no land scanning systems like the ones we have now," Ustenko said.
He also added that Ukrainian mineral resources are estimated to be worth between $15 and $30 trillion. As for rare earth minerals, the amount can reach up to 3-5 trillion dollars.
"As for our deposits, Ukraine's mineral resources, according to various estimates, are worth between $15 trillion and $30 trillion, depending on how you count. As for rare earth minerals, the amount can reach up to 3-5 trillion dollars.
But again, the question is, in exploration, on what these estimates are based. These estimates are based on the fact that there has never been a scan of the land, because it is an expensive procedure that would cost $1 million per square kilometer to conduct a scan. That is, if we are talking about all our reserves of rare earth minerals, we can talk about amounts up to a hundred billion dollars," explained economist Ustenko.
Also, today the President of Ukraine, Volodymyr Zelensky, reacted to the latest attacks by the Russian invaders on Ukraine and spoke about the consequences.
Previously, the Ukrainian Defense Forces captured the Chinese military, who were fighting on the side of Russia. China reacted to this and stated that it did not send its military personnel to participate in the fighting in Ukraine.
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