Teaching activity

In the News Teaching Activity – the fight for critical mineral resources in Ukraine (Mar 2025)

Elizabeth Veal

6th March 2025

Ukraine holds vital critical minerals like lithium, titanium, and rare earths, crucial for green energy, technology, and military production.

The war in Ukraine has intensified the economic battle over critical minerals, with the U.S. seeking access to Ukraine’s vast deposits of lithium, titanium, graphite, and rare earth elements. These resources are essential for green energy, advanced technology, and military production, yet their scarcity underscores the fundamental economic problem. With China dominating global mineral processing, the U.S. views Ukraine as a strategic alternative, but geopolitical instability threatens supply chains. As demand surges, the minerals race highlights the intersection of war, economics, and global power struggles.

What are Ukraine’s critical minerals – and why does Trump want them? | Ukraine | The Guardian

1. Explain why scarcity of resources is the ‘fundamental economic problem’.

2. Using a production possibility diagram, show the effect of greater access to Ukraine’s critical and rare minerals for the USA economy.

3. Discuss the importance of Ukraine’s critical minerals in global supply chains.

Download our suggested answers for this resource here

Elizabeth Veal

Liz has taught Economics for over 25 years, including several years as Head of Economics at leading schools.

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