1. Current Restrictions
- Secrecy Labels: Information on reserves and resources of critical minerals such as diamonds, gold, lithium, titanium, platinum, and other strategic materials is currently classified as either “secret” or “for official use.”
- Legal Barriers: According to the EBA Subsoil Use Committee, laws restricting public access to geological information impede international agreements in subsoil use and discourage partnerships with strategic investors.
2. Economic and Technological Impact
- Investor Deterrence: Ongoing secrecy around balance reserves and resources may reduce investor interest, which is particularly significant given Ukraine’s need for capital and modern technologies in its resource sector.
- Global Best Practices:
- In the United States, the U.S. Geological Survey publicly shares data on existing mineral reserves.
- In the European Union, the Raw Materials Information System provides open access to critical raw materials data.
3. Relevance for Strategic Initiatives
- Ukraine Facility Program: Enhancing the transparency of geological information aligns with the implementation of the Ukraine Facility program’s goals.
- EU Partnership: Greater openness would also support Ukraine’s strategic partnership with the EU in the raw materials sector, a key component of broader economic and industrial cooperation.
By lifting secrecy labels on geological information, Ukraine could spur greater international investment and technological innovation in its mining and resource sectors, ultimately strengthening its position within European and global markets.
