Mark Cuban Surprisingly 'Loves' The Trump Administration's Push For Ukrainian Rare Minerals—Here's Why He Thinks It's Good For Both Sides

Billionaire investor Mark Cuban has openly supported the Trump administration’s plan to get rare minerals from Ukraine. In a recent post on Bluesky, Cuban said, “Got to say I LOVE the Trump Administration negotiating to get Rare Minerals from Ukraine, for 2 reasons: 1. It reduces our dependence on China for Lithium and Graphite (China provides near 70% of world supply) 2. More than 50% of those minerals are in Russian Annexed land.”

Why Cuban Supports the Deal

Cuban's enthusiasm centers on the economic and geopolitical impact of such a deal. The U.S. currently depends heavily on China for critical minerals like lithium and graphite, which are essential for electric vehicles, batteries, and high-tech industries. By securing resources from Ukraine, Cuban sees a way to reduce that reliance.

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Additionally, much of Ukraine's rare mineral wealth is in Russian-occupied areas. If the U.S. is invested in these resources, Cuban believes it strengthens President Donald Trump's argument to help Ukraine retain as much annexed land as possible. “This creates a very strong argument for Trump to negotiate to keep as much of that annexed land under Ukraine as possible,” he wrote in a follow-up post.

The U.S.-Ukraine Deal in the Works

Even though Cuban is excited about the idea, the deal is far from done. The U.S. has asked for $500 billion worth of mineral access, but Ukraine's President Volodymyr Zelenskyy has pushed back. He says Ukraine needs security guarantees before agreeing. So far, the U.S. has given Ukraine about $67 billion in military aid, which is a lot less than what it's asking in return.

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Nevertheless, Ukrainian Parliament Speaker Ruslan Stefanchuk recently announced that negotiations will formally begin on the deal. Trump, for his part, claims the deal is close, stating, “I think we’re pretty close, yeah. I think they want it. They feel good about it. And it’s a significant, it’s a big deal, but they want it and it keeps us in that country and they’re very happy about it.”

Controversy Over Starlink Threats

As negotiations continue, there have been reports that U.S. officials suggested restricting Ukraine's access to Starlink, a satellite internet system crucial for military and communication operations, to pressure Kyiv into accepting the deal. Elon Musk, whose company SpaceX operates Starlink, denied the claims, calling the report “false.”

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Ukraine’s Untapped Wealth

Ukraine is home to some of Europe's largest reserves of lithium and titanium, both crucial for high-tech industries. However, mining has been limited due to the ongoing war and insufficient geological research. Around 40% of Ukraine’s metallic mineral resources are in Russian-occupied territories, making access to these materials a major geopolitical issue.

The European Commission has identified Ukraine as a potential key supplier of over 20 critical raw materials, seeing its integration into the European economy as a strategic move. But with the U.S. now aggressively pursuing its share, the battle for Ukraine's resources is heating up.

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