Titanium, lithium, graphite: who owns Ukrainian subsoil
Kyiv • UNN
In Ukraine, 2268 companies and 78 individuals have the right to use mineral resources. The legal entities are owned by representatives of 51 countries, and the "SCM", "Smart-holding" and other groups are among the shareholders of more than 10 companies.
2,268 companies and 78 individuals have the right to use mineral resources in Ukraine. Representatives from 51 countries are present in the ownership structure of the analyzed legal entities. More than 10 legal entities with special permits for the use of mineral resources include the corporate groups "SCM", "Smart-holding", "Zakhidnadraservis", "Istvan" and "ATB". This is stated in the YouControl study, reports UNN.
Details
It is reported that YouControl specialists took as a basis the list of critical minerals from 50 mineral resources published by the US Geological Survey (USGS) in 2022.
Special permits for the use of mineral resources and foreign owners
YouControl analysts note that in total 2,268 companies and 78 individuals have 3,482 valid special permits for the use of Ukrainian mineral resources. Most companies owning such special permits have one valid permit, but there are a number of companies where their number reaches several hundred or dozens. For example, state-owned JSC "Ukrgazvydobuvannya" (213 permits), PJSC "Ukrnafta" (89). Some companies could not be identified due to the widespread name (the analyzed list does not contain EDRPOU codes).
502 enterprises associated with 255 corporate groups in the YouControl analytical system. Some companies belong to several groups at the same time, and a number of corporate groups have several companies from the analyzed list. More than 10 legal entities with special permits for the use of mineral resources include "SCM" (39), "Smart-holding" (17), "Zakhidnadraservis" (13), "Istvan" (12) and "ATB" (11).
"The co-owners of 351 companies out of 2109 are legal entities or individuals with a place of registration/citizenship in foreign countries. The ownership structure of these companies includes representatives from 51 countries. Among the participants/shareholders/beneficiaries of some of them may be companies or individuals from several foreign countries at the same time. The largest number of co-owners of companies that have special permits for the use of mineral resources are representatives of Cyprus (137), the Netherlands (34), Switzerland (24), Great Britain (23), Germany (21), the Czech Republic (16), the USA (14), Turkey and the Seychelles (13 each), Austria (12) and Belize (10)", the study says.
Who controls Ukrainian critical minerals: a list of companies
YouControl analysts report that according to the analysis of the list of special permits for the use of mineral resources (including the use of oil and gas bearing resources), 39 companies have special permits for the use of 16 of the 50 critical minerals in Ukraine. At the same time, some companies have special permits for the use of several critical mineral resources at once.
The analysis of data of 39 legal entities showed that 10 of them are owned by the state. 7 state-owned companies have a special permit for the use of the mineral germanium, and Demurinskyi Mining and Processing Plant LLC has the right to use ores of several critical minerals at once, including vanadium, niobium, scandium and others.
It is reported that JSC "United Mining and Chemical Company" has a special permit for the use of 5 of the 50 critical mineral resources.
The composition of 13 corporate groups includes/relates to 22 of the analyzed 39 companies. Some groups include several companies that can use critical minerals.
The key person of the "ATB" corporate group, Gennadiy Butkevich, is the beneficiary:
- TOV "Development of Pobuzhzhia" (graphite);
- TOV "Perzhanska Ore Company" (zinc, beryllium);
- TOV "Titan-apatite group" (titanium);
- TOV "CFR GROUP" (zirconium).
It is noted that Butkevich's partner with less than 10% share in the authorized capital of the above-mentioned four companies is Vitaliy Yakymenko - a key person of the "Yakymenko Family Group". The "Yakymenko Family Group" includes 3 companies that also have special permits for the use of critical minerals:
- TOV "Colormet Ukraine" (nickel);
- TOV "Mine Extraction" (chromium);
- TOV "Taurus Infinity" (tantalum).
The right to use minerals containing titanium, vanadium, scandium and zirconium is held by 3 companies from the group of sanctioned businessman Dmytro Firtash from "Group DF":
- TOV "Valki-Ilmenite" (titanium, vanadium, scandium, zirconium);
- TOV "Mezhirichenskyi Mining and Processing Plant" (titanium);
- TOV "Motronivskyi Mining and Processing Plant" (zirconium).
Three companies with a special permit for the use of germanium are part of the "SCM" corporate group.
- PrJSC "DTEK Pavlogradvugillya";
- TOV "Mine "Bilozerska";
- PrJSC "Mine Administration "Pokrovske" is also associated with the "Smart-Holding" group of ex-People's Deputy Vadym Novinskyi. Novinskyi is currently under sanctions by the National Security and Defense Council.
TOV "Krasnolimanske", which is part of the "Ukrdoninvest" group, the key person of which is Vitaliy Kropachov, also has a special permit for the use of germanium.
Analysts also report that a special permit for the use of titanium and zirconium ores is held by TOV VKF "Velta", which is part of the corporate group of the same name "Velta", the key person of which is Andriy Brodskyi. In March 2025, TOV "Velta Minerals" (until March 2025 - TOV "Dekart Minerals") became part of the group. This company also has a special permit for the use of titanium ores.
The only legal entity that has a permit for the use of lithium ores is TOV "Ukrlithiumvydobuvannya". The beneficiary of the company is Serhiy Tabalov - a key person of the "Tabalov Family Group".
In addition to the above-mentioned legal entities from the "ONUR" and "ATB" groups, PrJSC "Zavallivskyi Graphite Combine" received a special permit for the use of graphite minerals. The owner of almost 79% of the company's shares is TOV "Grafitinvest", 70% of the authorized capital of which belongs to the Australian company Volt Resources Ltd.
Three companies have a special permit for the use of manganese ores: TOV "Neotekhinvest", JSC "Manganese Mining and Processing Plant" and JSC "Pokrovskyi Mining and Processing Plant".
