This podcast episode investigates the claim that Ukraine possesses $500 billion worth of rare earth minerals, crucial for various industries. The interview with Ellie Sacklett-Varla, a commodity price expert, reveals that while Ukraine has significant mineral resources, the $500 billion figure is likely inflated and based on outdated data. Sacklett-Varla explains that the difficulty and cost of extracting and processing these minerals significantly impact their actual value. She highlights the challenges of accurately valuing such resources and points out that the term "rare earths" is often used loosely to encompass a broader range of valuable minerals. The episode concludes by emphasizing the need for updated geological surveys to accurately assess Ukraine's mineral wealth.
