UkrLithiumMining Works on the Final Feasibility Study for the Polokhivske Lithium Project

In 2026, UkrLithiumMining LLC (ULM) is working on the preparation of the Definitive / Bankable Feasibility Study (DFS / BFS) for the Polokhivske Lithium Project – the project’s final feasibility study.

Mykhailo Heichenko, CEO and Chief Geologist of ULM, spoke about the project’s progress during Mining Day 2026, an industry forum organised by the European Business Association.

“Today, we are working on the next important stage – the Definitive / Bankable Feasibility Study. In simple terms, this is the project’s final ‘bankable’ feasibility study. Once it is completed, we plan to proceed with the design of the mining facilities and construction of the processing plant,” said Mykhailo Heichenko.

ULM is the only company in Ukraine holding a special permit for subsoil use covering a lithium deposit. The company obtained the permit in 2017 and has since been consistently implementing its work programme aimed at preparing the Polokhivske deposit for commercial development.

During this period, the company completed a detailed assessment of lithium ore reserves, which were approved by the State Commission of Ukraine on Mineral Resources (DKZ), carried out further exploration of the Polokhivske deposit, and completed an international assessment of its mineral resources in accordance with the JORC Code. The company also completed a Pre-Feasibility Study and the Environmental Impact Assessment (EIA) required under Ukrainian legislation, including public hearings in the local community where the project will be implemented. As a result, the project received the community’s support, and the company obtained a positive EIA conclusion.

As Mykhailo Heichenko noted, international experience shows that mining projects of this scale typically take 10–15 years to progress to implementation. Prior to the start of Russia’s full-scale invasion of Ukraine, ULM was progressing broadly in line with such a timeline. The war has affected the schedule of the Polokhivske Project but has not brought it to a halt: the company continues to carry out all work permitted by the security situation.

During Mining Day 2026, Mykhailo Heichenko also emphasisedthe need for legislative support for mining projects during wartime. In particular, this includes the automatic extension of special subsoil-use permits and the deferral of work programmeobligations for the duration of martial law and for an appropriate period following its termination.

The company emphasises that creating predictable conditions for long-term mining projects will support the development of Ukraine’s mining industry, facilitate the establishment of new production facilities and create new jobs, providing a foundation for the country’s economic growth.