Zelensky approves U.S.-Ukraine mining deal

On the 12th local time, the Ukrainian presidential website announced that President Zelensky signed the law on the approval of the "Agreement on the Establishment of the US-Ukraine Reconstruction Investment Fund". On April 30, the United States and Ukraine jointly signed the "Agreement on the Establishment of the US-Ukraine Reconstruction Investment Fund", which was previously known as the "US-Ukraine Mineral Agreement". On May 8, the Verkhovna Rada (parliament) of Ukraine supported the approval of the agreement with 338 votes in favor. Although the signing of the mineral agreement between the United States and Ukraine is regarded as a signal of easing relations by the outside world, its actual effect remains to be seen. Some mineral consulting agencies have analyzed that it may take 10 to 20 years to develop key strategic minerals in countries with mature mining industries. However, there is currently a lack of sufficient data to prove that the development of most of Ukraine's mineral resources is economically feasible. In addition, power, transportation and other infrastructure have been damaged by the Russian-Ukrainian conflict and the security prospects are uncertain. Investors may be cautious. (CCTV)