Russia has started auctioning off natural resource assets in occupied areas of Ukraine, including a valuable gold deposit, which is likely to escalate international outrage over the exploitation of seized land.
According to a Reuters report, the development rights for the Bobrykivske gold deposit in Luhansk Oblast were sold for just $9.7 million to a company linked to a Russian mining firm.
Auction documents indicate that the site contains 1.64 metric tonnes of gold, potentially valued at nearly $260 million based on current market prices, underscoring the significant discount at which these strategic resources are being sold.
Before Russia’s 2014 intervention in Ukraine, Korab Resources had been developing this deposit. The sale is part of a broader initiative by Moscow to monetise assets in occupied regions. Numerous mines, quarries, and agricultural sites are reportedly being offered through online auctions as Russia seeks to strengthen its economic control over these areas.
Attention is also being drawn to a major lithium reserve located in Donetsk Oblast, near the village of Shevchenko, which was seized by Russian forces in 2025. The Shevchenkivske deposit, covering approximately 40 hectares, is viewed as one of Ukraine’s most promising sources of lithium, a critical material for electric vehicle batteries.
In addition to lithium, the site is believed to contain valuable rare elements, including rubidium, caesium, tantalum, niobium, and beryllium, all of which are essential to the advanced manufacturing and defence industries.
Ukraine is estimated to host around 20 of the world’s critical minerals, such as titanium and lithium, positioning the country at the centre of a growing global competition for strategic resources.
These auctions are likely to create new legal and political challenges, as Kyiv and its allies are expected to argue that any extraction agreements made under occupation lack legal validity under international law.
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