Ukrainian President Volodymyr Zelenskyy has rejected a US bid to take ownership of around 50 per cent of the rights to his country’s rare earth minerals and is trying to negotiate a better deal, according to several people familiar with the matter.

Ukraine has rejected a bid by the U.S. to own 50% of the country’s rare earth minerals, as President Volodymyr Zelenskyy seeks to negotiate a better deal, the Financial Times reported. U.S. Treasury Secretary Scott Bessent presented the proposal to Zelenskyy in a draft contract,