Rorey Bosotti
Live page editor

Ukraine and the US are inching towards a long-awaited minerals deal that aims to further cooperation between the two countries, according to officials in both Kyiv and Washington.

A senior Ukrainian official told the BBC earlier today Ukraine was ready to sign and Economy minister Yulia Svyrydenko was already on her way to Washington to put her signature on the dotted line.

BBC News then saw a draft copy of the document, which sets out the key objectives of the deal, and is much broader than what Kyiv initially proposed – but will ensure Ukraine maintains control of its natural resources, Prime Minister Denys Shmyhal insists.

During a press event by the US cabinet marking the first 100 days of the second Trump istration, Treasury Secretary Scott Bessent confirmed the US was also ready to sign “this afternoon”.

Bessent noted both sides had made some “last minute changes” – with one source telling the BBC that Svyrydenko had been advised not to travel to the US until the agreement was finalised.

The source added that more "technical documents" had already been signed last Friday but Kyiv had tried to re-open talks on a series of points they'd already agreed to, namely on the governance of an investment fund for the reconstruction of the country and a transparency mechanism.

Despite the last minute negotiations, the deal could still be signed by the end of Wednesday if the US believes that Ukraine is complying with the agreed on last week, the source said.

Once the deal is officially signed, there'll still be a series of hurdles that will need to be overcome before it's implemented - namely ratification by the Ukrainian parliament.

Shortly, we'll be pausing our coverage for the night but you can catch up with the latest on the deal in our story.

Esme Stallard
Climate and science correspondent

Image source, Getty Images

Mining a critical mineral is just one stage in a complex supply chain to get it from the ground to the final product.

Lithium, for example - a common critical mineral and highly valued for its use in green tech - does not occur on its own in nature but is found combined with other minerals. More than half of lithium supply globally comes from Spodumene ore, which contains only around 6 or 7% lithium.

There are then half a dozen stages of processing to extract the lithium and convert it to lithium carbonate or lithium sulphate which can then be used in batteries.

Despite lithium and many critical minerals being abundant worldwide, just one country dominates this processing...China.

"China s for 60% of global rare earth production but processes nearly 90% - [it] is dominant on this stage," says Gracelin Baskaran, director of the critical minerals security program at the Centre for Strategic and International Studies in Washington DC.

So even if Trump can secure access to Ukraine's mines, at the moment, if he wants to use them in US products, he'll have to ship them to China for processing first.

This is something, analysts have told me, is likely to frustrate Trump.

• The unexpected knock-on effect of Trump's minerals deal - BBC News

Ukrainian MP Maria Mezentseva tells the BBC News channel she hopes the long-awaited minerals deal with the US will be signed soon.

The deal is a "good investment opportunity" and a fair one, she says, and it "doesn't breach Ukraine's EU aspirations".

The deal is for critical minerals, energy and infrastructure and for rebuilding efforts, she says, adding that the deal means Ukraine is "not giving away all its resources".

But "we want to see clear security guarantees", Mezentseva says.

Bernd Debusmann Jr
Reporting from the White House

A source familiar with the discussions tells the BBC that if the US side believes that Ukraine is complying with already agreed upon , the g can still happen by the end of Wednesday.

The source says that the US believes the Ukrainians are attempting to re-open that were already agreed as part of the package.

Ukraine’s deputy prime minister was told not to travel to the US until the agreements were finalised, the source added.

Technical documents were signed on Friday by representatives of both countries. The source says that Ukraine was attempting to re-open several specific points, including the governance of the fund, the transparency mechanism, and steps to ensure that all funds are fully traceable.

Both the US and Ukraine teams worked through the night on Friday into Saturday to finalise the documents, as well as until early in the morning on Wednesday.

Image source, Reuters

The minerals deal is a major development that could have Russia worried about the strengthening relationship between the US and Ukraine, according to critical minerals and energy geopolitics expert Duncan Wood.

Wood tells BBC News that Moscow would have a sense of "deep disappointment" over the the two countries growing closer.

The potential presence of US interests in Ukraine also adds a different dynamic to the conflict, he adds.

Wood also notes that despite Trump's broader effort to diversify critical minerals supply chains away from Beijing's near monopoly on processing meant that even if the US could access raw material from Ukraine, refinement would still need to happen in China.

Bernd Debusmann Jr
Reporting from the White House

Today's cabinet meeting lasted exactly two hours and three minutes.

But we only heard about Ukraine briefly, and at the end, once reporters were able to ask questions. I spend most days at the White House, and recently I've found this to be the case, more often than not.

Earlier in the istration, officials were quick to discuss efforts to end the conflict there, and some of them, such as National Security Advisor Mike Waltz, were quick to stop and talk to reporters outside the Oval Office.

Some weeks - particularly that in which Sir Keir Starmer, Emmanuel Macron and Volodymyr Zelensky all visited - seemed to have been completely dominated by Ukraine news.

That has largely stopped, potentially a sign of the istration's growing frustration that it has been unable to stop the fighting despite repeated promises.

We still don't know about when any potential g could take place.

But we will hear from Trump at least two more times today - at an investment-focused event this afternoon and at a televised down hall in the evening.

As we've been reporting, Treasury Secretary Scott Bessent said the US is ready to sign the deal "this afternoon" but the Ukrainians "decided to make last minute changes".

You can watch the moment he's asked about the agreement during Trump's latest cabinet meeting below:

Image source, Oleh Tereshchenko / Ukrainian Ministry of Economy

The latest line from US Treasury Secretary Scott Bessent is that the US is ready to sign the deal if Ukraine is - but let's take a moment to look back at today's developments.

A senior source earlier this afternoon told the BBC that Ukraine was ready to sign the deal today and that economy minister Yulia Svyrydenko was en route to Washington.

Ukraine's Prime Minister Denys Shmyhal then said that the fine details were being worked on and he hoped it would be signed in the next 24 hours.

In Washington, the first we heard from the istration was at the end of a cabinet meeting marking the first 100 days of Trump's second term.

Bessent responded to a question from the press and indicated that the US was ready to finalise the agreement after some "last minute changes".

President Trump took the opportunity to repeat his familiar criticism of the previous istration's spending on Ukraine, including figures which various experts and European leaders have debunked.

Once the minerals deal is signed in Washington Ukraine's parliament will need to ratify the framework.

Image source, Getty Images

More now from the cabinet meeting and Trump's remarks about the minerals agreement with Ukraine.

He says he "didn't want to make a complicated deal" because "Ukraine doesn't have very much money".

But "we've made a deal where our money is secure," he says.

Having a US presence in Ukraine where the US would be digging for the country's resources "will keep a lot of bad actors out of the country" he adds.

Bernd Debusmann Jr
Reporting from the White House

Image source, Getty Images

Donald Trump was just asked about the Ukraine minerals deal - a question he directed to Treasury Secretary Scott Bessent.

"Our side is ready to sign this afternoon if they are," Bessent says.

According to Bessent, both sides decided to make some "last minute changes" to the agreement last night.

It is unclear what those changes are.

Bessent adds that that "it's the same agreement that we agreed to on the weekend" and that nothing was removed.

Trump is now delivering familiar talking points on the death toll in Ukraine, and his perception that Europe has not contributed enough to Ukraine's defence.

"As you know, we're looking for rare earth all the time," he adds, referencing the deal. "They have a lot, and we made a deal, so we can start digging and doing what we have to do. It's also good for them."

"Soon, they're going to honour the deal," he says. "We haven't really seen the fruits of that deal yet. I suspect we will."

Abdujalil Abdurasulov
Ukraine reporter

Prime Minister Denys Shmyhal has stated that as part of the agreement Ukraine will maintain control over its natural resources.

Shmyhal claims that the deal covers only future licenses and special permit for subsoil use.

The fund, he says, will invest in Ukraine’s recovery and development for 10 years.

According to the prime minister, both parties will have an equal ownership and make equal contribution to the fund.

He also says that once the deal is agreed, there will be two more “technical” documents to sign – one on the creation of the fund and another one on its financing.

The current “framework” agreement must be ratified by the Ukrainian parliament first.

If you want to take a step back from the details of the expected minerals agreement, our colleagues on Ukrainecast have been analysing the first 100 days of Donald Trump’s presidency.

They assess the impact Trump is having on Ukraine and whether we’re any closer to a peace deal.

You can find that episode here, and tomorrow the team will record a special Q&A episode on the minerals deal, so if you have any questions please email [email protected].

As details of the deal continue to emerge, let's take a look at how we got here.

Whose idea was the deal?

The prospect of a deal was first proposed by President Zelensky last year as a way to offer the US a tangible reason to continue ing Ukraine. Trump, for his part, has suggested a deal could act as compensation for US military aid given to Ukraine since Russia launched its full-scale invasion in February 2022.

Why does Trump want the minerals?

Critical minerals are key to renewable energy, military applications and industrial infrastructure and the US wants to reduce dependency on China, which controls 75% of rare earth deposits in the world, according to the Geological Investment Group.

When was the deal agreed?

The framework appears to have been broadly ready for a couple of months, and the prospect of a g has edged closer since February.

Why was it derailed?

You probably don't need reminding about the notorious White House bust-up between Zelensky, Trump and Vice-President Vance in February. The intel suggested the deal would be signed but after a tempestuous clash in front of the media, the Ukrainian delegation left Washington early.

Could it be signed today?

It certainly seems to be very close. With Ukraine's deputy prime minister travelling to the US today, the expectation is that it could be hours away.

We'll bring you more as soon as we have it.

Abdujalil Abdurasulov
Ukraine reporter

The focus of the agreement, which may yet change, is much broader than a deal on rare-earth minerals that was initially proposed by Kyiv.

The US-Ukraine government investment fund that will be established as part of the agreement will manage investments in “critical sectors of Ukraine’s economy” overall.

It means all mineral resources of Ukraine, its energy sector, transportation and other areas can be potentially included in the objectives of this fund.

The agreement doesn’t specify “security guarantees” that Ukraine has been insisting on. It only states that it’s “a tangible demonstration of the United States of America’s for Ukraine’s security”.

This effectively repeats what the Trump istration stated earlier – that America’s involvement in Ukraine’s mining industry and other sectors will effectively represent an investment into security as well.

Kyiv, however, wanted to have specific commitments from the US.

Bernd Debusmann Jr
Reporting from the White House

Image source, Getty Images

I've been listening in on Trump's cabinet meeting - and there is so far no indication of any imminent deal between the US and Ukraine.

In fact, I've so far not heard any mention of Ukraine at all from the cabinet , who are going around the room discussing their accomplishments.

This is perhaps unsurprising if a deal is still in the works, rather than finalised. Many observers strongly suspect that when it is signed, it will be done with much fanfare, rather that an event in which a wide variety of topics are being covered.

There are still, however, several relevant parties - such as Treasury Secretary Scott Bessent and Secretary of State Marco Rubio - left to speak.

Stay with us for more updates.

Image source, Ukrainian Presidential Press Service

What does Trump want?

• Trump previously suggested a minerals deal could act as compensation for US military aid given to Ukraine since Russia launched its full-scale invasion in February 2022
• He also wants mineral resources from Ukraine amid an ongoing trade war with China, which is responsible for 90% of rare earth refining. In recent months, China has banned the export of several key minerals to the US

What does Zelensky want?

• Zelensky has pushed hard for the inclusion of a security guarantee from the US, to protect Ukraine from future Russian aggression
• The deal would also offer financial for the reconstruction of Ukraine following the devastation caused by Russia's invasion

Esme Stallard
Climate and science correspondent

Image source, Getty Images

It seems like a straightforward question but there is actually no global definition.

A country will assess each of the world's minerals and is generally looking for a) how important is this mineral for our economy and technologies; and, b) how high is the risk of our supply of that mineral being disrupted.

If a country relies heavily on other countries to source a particular mineral that could be considered to have a high risk of disruption.

The result is that every country has its own list.

The US for example has two lists, one focused on minerals for energy technologies and one for the wider economy - that list has 50 "critical" minerals on it, external.

The UK has 34 minerals on its critical list, and India 30. , external

But there is a lot of cross over. For example, cobalt is one that appears on many countries' lists. That's because it's vital for technologies like rechargeable batteries, and more than 50% of the global supply comes from just one country.

Tom Bateman
US State Department correspondent

Ukrainian sources say it’s now up to the White House to determine whether the deal g takes place, and US officials are yet to comment.

A draft of the agreement, seen by the BBC, creates a t US-Ukraine government investment fund to prospect for critical minerals in Ukraine, and sets out the t financial arrangements for revenues from it for the two countries.

Crucially, the draft says that future American military assistance to Ukraine would count as an investment cost from the American side - in effect partly fulfilling President Trump’s demand for the US to get its “money back” for its weapons for Ukraine, in the form of profits from future oil, gas and minerals profits.

But vitally this does not appear to be backdated to cover the cost of weapons assistance already given to Ukraine; a significant concession compared with previous reported drafts of the deal that president Zelensky was demanding and seems to have got from the White House.

US President Donald Trump's cabinet meeting is now under way at the White House.

Stay with us as we'll bring you the key lines on Ukraine as we get them.

You can also follow Trump's remarks by clicking watch live at the top of the page.