Within the framework of the International Conference on the Reconstruction of Ukraine in Gdansk (URC 2026) on 25 June 2026, the Ukrainian investment group BGV, the Finnish company METSO and the Finnish export credit agency FINNVERA signed a Memorandum of Understanding on strategic projects in the field of the production of critical raw materials in Ukraine, in particular graphite, as well as other minerals necessary for the development of innovative products in Europe.

            The signing took place with the participation of the Prime Minister of Finland Petteri Orpo and the European Commissioner for Enlargement Marta Kos, which emphasizes the growing cooperation of European industry, financial sector and EU leadership in the reconstruction of Ukraine.

            This concerns the development of one of the largest graphite deposits in the world, located in Ukraine. The BGV Group graphite mining project is located at the Balakhiv deposit in the Kirovohrad region of Ukraine. It has been included in the EU’s strategic initiative on the provision of critical raw materials and it is included in the list of 194 initiatives recognized as vital for Europe’s resource and technological independence. The project cost is EUR 450 million. The main target market is the supply of batteries for electric vehicles manufactured in the EU.

            METSO has been operating in Ukraine for a long time and has the necessary experience of working with partners to support the development of the mining and minerals sector.