The U.S.-Ukraine Reconstruction Investment Fund (URIF) has agreed to establish a joint investment platform with BGV Group Management to develop a portfolio of critical minerals projects in Ukraine, with the possibility of investing up to $30 million in individual projects.
According to Conor Coleman, Head of Investments at DFC, URIF, through its partnership with BGV Group Management, is paving the way for advancing promising Ukrainian critical minerals projects from early-stage development to production.
“The platform will combine URIF’s investment capabilities with BGV’s local operational expertise to help mobilize additional international capital and attract best-in-class players to build resilient, diversified supply chains that will unlock the long-term economic potential of these resources for Ukraine, the United States, and allies,” Coleman said.
At the initial stage, the platform provides for the possibility of investing up to $30 million in development programs for individual projects. The initial focus will be on assets related to rare earth elements, beryllium, and zirconium.
BGV Group Management’s investments in mining already exceed $125 million. The company has been operating in the sector for over 10 years and is developing six critical minerals areas.
The platform’s goal is to build a diversified portfolio of promising critical minerals projects and help them pass key milestones, from development to readiness to attract large-scale project financing and move to industrial implementation. The platform will also create opportunities for Ukrainian and international companies, financial institutions, technology partners, strategic investors, and potential offtakers of future products to participate in individual projects.
The platform’s structure allows for the involvement of Ukrainian and international co-investors, financial institutions, and technology, industrial, and strategic partners in individual projects.
The establishment of the platform does not imply automatic financing of any individual project or company. Financial parameters, structure, and terms of participation will be determined separately for each project following its assessment and structuring.
The U.S.-Ukraine Reconstruction Investment Fund (URIF) is a joint investment fund of the United States and Ukraine, established to mobilize capital and attract investment in Ukraine’s recovery, economic development, and strategic sectors. The Fund focuses, in particular, on projects that contribute to Ukraine’s recovery, the strengthening of supply chains, and the shared economic security and prosperity of Ukraine and the United States.
BGV Group Management is a Ukrainian investment group founded in 2015 by prominent Ukrainian businessman and philanthropist Gennadiy Butkevych, co-owner of ATB, Ukraine’s largest grocery retail chain. The group develops five core business areas: mining, energy, real estate development, retail, and education and sports. Today, BGV is one of the largest private investors in the Ukrainian economy. Since the start of the full-scale war alone, the group has invested over $260 million in the development of Ukrainian projects. One of the group’s key focuses remains mining, which the company has been pursuing since 2016. Today, BGV holds Ukraine’s largest portfolio of such projects: six CRM (critical raw materials) areas related to graphite, beryllium, zirconium, titanium, molybdenum, and rare earth elements.
