Forbes Ukraine hosted its annual Business Energy Forum in Kyiv on October 24. BGV Group Management teams participated in the panel discussion “Mineral Agreement with the USA: Expectations, First Projects, How to Prepare.” Panelists discussed potential cooperation with the Reconstruction Investment Fund, a Ukrainian-US initiative designed to attract private investment to strategic sectors of Ukraine’s economy.

BGV moved into critical raw materials well before the current global surge in interest, entering the sector in 2018–2019. The group now holds six special permits for critical minerals, covering the exploration and production of graphite, beryllium, molybdenum, and other rare earth minerals, with projects at various stages of implementation.

“We don’t hold so-called ‘dormant licenses’ fundamentally. Every asset is either a project we’re developing ourselves or an active case for thorough preparation of the project and organization of an international partnership. We’re currently submitting new projects from the strategic list to the European Commission, so from the outset our approach aligns with international technical, environmental, and other standards,” said Sergii Voitsekhovsky, a member of BGV Group Management’s Board of Directors.

Another key topic was preparing for potential cooperation with the Reconstruction Investment Fund. Sergii Voitsekhovsky said BGV has consistently taken a systematic, responsible approach to each project, aligning with advanced international standards from the outset to position its mining ventures for global partnerships. Extracting and processing critical minerals requires investments ranging from tens to hundreds of millions of dollars. From the outset, the company structured its projects to international standards to be compatible with any investor—whether the EBRD, a forthcoming US-backed fund, or a strategic partner. The company verifies reserves at its deposits under and NI 43-101 standards and prepares environmental documentation to meet international financial institution requirements.

“This isn’t an adaptation ‘for someone’—it’s the path we deliberately chose from the start. Our graphite project is a clear example: we’ve already signed a mandate letter with the European Bank for Reconstruction and Development for potential financing, which means the project meets its initial criteria for transparency, technical maturity, and environmental compliance,” said Sergii Voitsekhovsky.

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Forbes Ukraine’s Energy Business Forum convenes business leaders, regulators, and executives from leading state and private energy companies annually. This year’s forum focused on readiness for the 2025–2026 winter, the entry of new market players, modern business models, and partnerships as a cornerstone of sustainable growth in Ukraine’s energy sector.

The Reconstruction Investment Fund is a joint Ukraine–US initiative to attract private investment into key sectors of Ukraine’s economy. Ukraine will contribute 50% of state budget revenues from the sale of new licenses and proceeds from new mineral extraction royalties. The United States will provide cash contributions or credit for part of the new military aid toward its share. Profit distribution is planned after the fund’s first 10 years of operation.