What minerals are subject to a production sharing agreement?

The answer to the question posed in the title has two levels of understanding: technical and legal.

In terms of legal significance, there are no problems in understanding which minerals are the subject of a production sharing agreement.

Thus, the term "products", which is used in Article 1 of the Law of Ukraine "On Production Sharing Agreements" No. 1039-XIV of September 14, 1999 (hereinafter referred to as Law No. 1039-XIV of September 14, 1999), covers minerals of national and local importance (mineral raw materials) that are extracted (produced) during the development of mineral deposits.

That is, Law No. 1039-XIV of September 14, 1999 speaks in principle about "any" minerals.

On July 14, 2025, the Cabinet of Ministers of Ukraine, by Resolution No. 845, approved the list of subsoil areas (mineral deposits) of strategic and critical importance that will be provided for use through a competition for the conclusion of a production sharing agreement, in accordance with Appendix 4.

In Appendix No. 4, critical minerals include: 

1) vanadium ores; 

2) lithium ores; 

3) titanium ores; 

4) uranium ores; 

5) potassium salts.

It is obvious that Resolution of the Cabinet of Ministers of Ukraine No. 845 of July 14, 2025 has a political purpose and nature; it is aimed at implementing the creation of the American-Ukrainian Reconstruction Investment Fund.

Of course, with the level of interest of investors in Ukraine's minerals, amendments will be made to the Resolution of the Cabinet of Ministers of Ukraine No. 845 of July 14, 2025.

Returning to the technical understanding of which minerals are the subject of a production sharing agreement, the following should be noted.

Law of Ukraine No. 1039-XIV of September 14, 1999 operates with the concept of "significant and minor minerals".

In turn, significant mineral reserves are mineral reserves whose size exceeds insignificant mineral reserves.

Insignificant reserves are a list of minerals, which is determined according to the criteria specified by the Resolution of the Cabinet of Ministers of Ukraine.

The criteria by which insignificant reserves of useful substances are determined are based on the unit of measurement and threshold indicators.

By Resolution of the Cabinet of Ministers of Ukraine No. 1257 of 11.08.2000, minerals are classified according to the following criteria:

1) combustible minerals; 

2) metallic minerals; 

3) non-metals; 

4) mining chemicals; 

5) mining raw materials; 

6) construction raw materials.

Thus, according to Part 5 of Article 6 of the Law of Ukraine No. 1039-XIV of September 14, 1999, it follows that, by decisions of the Cabinet of Ministers of Ukraine and a local government body, a production sharing agreement may be concluded without a tender for subsoil areas with insignificant reserves of minerals, which is confirmed by the conclusions of the relevant state bodies.

Thus, subject to the conclusions of authorized state authorities, a production sharing agreement can be concluded for any product from among national and local minerals.