The national geological and Subsoil Agency of Ukraine and the Investment Promotion Office of Ukraine estimate that approximately US $10 billion will be invested in the development of key and strategic minerals, in particular, lithium, titanium, uranium, nickel, cobalt, niobium and other minerals. At a press conference on "future minerals" held by Tuesday, the plan was announced by Roman, head of Ukraine's state geology and Subsoil Agency, and Serhiy Tsivkach, executive director of the Ukrainian Investment Corporation, during a presentation on Ukraine's investment potential. At the press conference, 30 investment targets — areas with Non-ferrous metal, rare earth metals and other minerals — were proposed. According to the speaker, existing resources and prospects for future mineral development would enable Ukraine to develop new and modern industries. At the same time, the National Geology and Subsoil Bureau intends to attract investors to develop such minerals through public auctions of items. The Ukrainian Investment Corporation (Ukraininvest) , which is committed to attracting foreign investment into the Ukrainian economy, will include these lots in the Ukrainian investment guide and provide the necessary support in the various stages of attracting investors. "We estimate that their full development will attract more than $10 billion in investment to Ukraine, " OPIMAC said in a statement. Ukraine has one of the largest proven reserves and estimated lithium resources in Europe. Lithium can be used to make batteries for mobile phones, computers and electric cars, as well as special glass and ceramics. There are currently two proven deposits and two proven lithium mining areas, as well as some ores that have undergone lithium mineralization. Ukraine doesn't mine lithium. One site is licensed and only three are available for auction. In addition, there are two places where there is a judicial burden. Titanium is also up for auction. Ukraine is one of the world's top ten countries with proven reserves of titanium ore, accounting for more than 6% of the world's total production. Twenty-seven deposits and more than 30 deposits of different exploration levels have been recorded. At present, only alluvial placer deposits are being developed, accounting for about 10 per cent of all exploration reserves. Plans to auction off seven plots of land. The Non-ferrous metal is rich in nickel, cobalt, chromium, copper and Molybdenum. Ukraine has large Non-ferrous metal deposits and imports a lot of these metals to meet its needs. The deposits and ores that have been explored are distributed in a complex manner and are mainly concentrated in the Ukrainian shield. They're not mined at all, or in very small quantities. At the same time, mining reserves were 215,000 tons of nickel, 8,800 tons of cobalt, 453,000 tons of chromium oxide, 312,000 tons of chromium oxide and 95,000 tons of copper. "We have provided six items, one of which will be auctioned 202112 March, " said the director of the State Administration of Geology and subsoil. Rare earths and rare metals — tantalum, niobium, beryllium, zirconium and scandium — will also be auctioned. Rare and rare earth metals have been found in complex deposits and ores in the Ukrainian Shield. Zirconium and scandium are largely concentrated in alluvial and primary deposits and have not been mined. There are six deposits of tantalum oxide (Ta2O5) , niobium and beryllium, two of which are being exploited. One of the areas is scheduled to be auctioned on February 15; a total of three areas will be auctioned. With regard to gold deposits, seven deposits have been recorded and five licences have been issued, and Mining in the Murzhivsk deposit is still ongoing. One of these areas will be sold at auction in December 2020 and three others are planned to be auctioned. New areas of fossil fuel production will also be auctioned (one auction will be held on 202121 April and the other two are in the pipeline) . There are two uranium-bearing ore areas in the investment map, but no indication of reserves. OPIMAC said the mining projects would be implemented for at least five years because they are long-term projects: "these are capital-intensive projects with a long implementation cycle.