Lithium Universe on spodumene hunt to feed Canadian lithium refinery
The company is targeting a non-binding agreement to source the large supply to appease financiers and help lock in its required project finance, having reached a final investment decision earlier this year for the project to begin kicking into gear.
Initially it plans to source 56,000 tonnes of SC6-grade spodumene material, comprising 6 per cent lithium oxide, to fire up its conversion facility in 2028. That will increase to 98,000t in 2029 and reach the refinery's full capacity of 140,000t from 2030 onwards.
Lithium Universe will seek the feedstock material preferably from local Canadian producers or near-term developers, otherwise it may look to procure its required supply from a producer within the North Atlantic region, including Brazil and Africa.
Sourcing local material presents obvious logistical advantages, particularly significant savings in transport costs and potential tariffs imposed by the Canadian government on export material from countries including China.
Lithium Universe says many producers see the benefits in dealing with a local converter. Savings of US$100 (A$155) per dry metric tonne of spodumene could equate to a reduction of about US$800/t in converted lithium carbonate product costs.
Canada charges a 25 per cent import tariff on all Chinese lithium chemicals brought into the country, so local conversion of the battery mineral could represent significant savings to end-users.
Under the company's recently revealed definitive feasibility study, it proposes pumping out an impressive 18,270t of battery-grade lithium carbonate when its processing operations have fully hit their stride by 2030. Production will support the expansion of Canada's electric vehicle and energy storage industries.
Lithium Universe plans to purchase the spodumene feedstock from the market at benchmark prices and retain full ownership of lithium carbonate converted product.
It intends to sell on the open market or directly to an original equipment manufacturer, which ideally it hopes to source as an investor into the project in exchange for an offtake supply of the battery ingredient. It is not looking to toll treat any spodumene material.
Management says its mission is to close what it terms the 'lithium conversion gap', where an expected 20-plus major manufacturers plan to deploy 1000 gigawatts of battery capacity by 2028, with demand for 850,000t of converted lithium product. It anticipates only a potential 100,000t of lithium carbonate hard rock converters will be constructed by that timeframe.
The Bécancour refinery will implement a smaller, off-the-shelf model refinery in preference to larger, more difficult-to-operate plants. Its initial focus will be on producing lithium carbonate to feed the lithium-iron-phosphate batteries used in electric vehicles.
Lithium Universe's board approved a final investment decision on the Bécancour lithium refinery after its completed definitive feasibility study delivered a net present value of US$718M (A$1.109 billion). Based on the study results, it will aim to secure US$549M (A$848M) in funding to construct the facility.
Lithium Universe expects to generate an EBITDA of US$148M (A$228.5M) from an annual revenue of US$383M (A$592M) over a 3.9-year payback based on the study's price assumptions. The assumptions are higher than current lithium spot prices.
The company says the refinery will generate a 21 per cent internal rate of return, based on forecast prices of US$1170 (A$1807) per tonne of spodumene concentrate consisting of 6 per cent lithium content and US$20,970/t of lithium carbonate.
Actual spot prices for battery-grade lithium carbonate hover near US$7500/t.
The break-even cost is estimated at US$14,000/t for lithium carbonate on the expectation it will produce 18,270 tonnes per annum of battery-grade lithium carbonate.
With expectations that lithium pricing will improve in the coming 12-18 months as the supply and demand balance improves, management believes its financial modelling shows the company has a compelling and economically viable project on its hands.
If the management team can lock in the bucketload of spodumene it requires to convince project financiers to back it and jump on board, the project could be on its path to playing an important part in the Canadian electric vehicle battery market's future.
Is your ASX-listed company doing something interesting? Contact:
matt.birney@wanews.com.au
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Advertiser
2 hours ago
- The Advertiser
'Respect never cost anything': PM defends China outcome
Anthony Albanese has hit back at the coalition over claims of "indulgence" during his China trip, saying his rivals don't understand the importance of respect in diplomacy. The prime minister's itinerary has included retracing the steps of Gough Whitlam on the Great Wall of China and a panda research centre in the southwestern city of Chengdu as his visit nears the end. Back home, the optics of visiting popular tourist sites attracted sniping from the opposition. Coalition frontbencher James Paterson suggested the prime minister was enjoying himself too much. "I do wonder whether a Gough Whitlam history tour on the Great Wall of China, whether a visit to Chengdu to pose with some pandas, and whether a hit of tennis is strictly necessary as part of a six-day visit to China, when there is so much else at stake in our other international relationships around the world," he told Sky News on Thursday. "And frankly, I have to say that some of this is starting to look a little bit indulgent." Mr Albanese has himself been eager to draw links between his tour and those of former Labor prime ministers Whitlam and Bob Hawke, who also visited the giant pandas in 1986. What those and his visits achieved was building respect between Australia and China, which would in turn result in better economic and diplomatic outcomes, he said. "Those pictures go to 27 million people, potentially, in Australia. They go to over a billion people in China," Mr Albanese told reporters in Chengdu. "And those billion people represent people who are increasingly rising up the income ladder and are potential tourists and therefore job creators in Australia. "If James Patterson doesn't understand that, then he doesn't understand much. "The Great Wall of China symbolises the extraordinary history and culture here in China, and showing a bit of respect to people never cost anything. You know what it does, it gives you a reward." Mr Albanese's trip has been shorter on concrete outcomes than in previous years, when his resumption of dialogue with China saw $20 billion worth of Chinese trade sanctions lifted from Australian exports. But the welcome has been warmer and coverage from Chinese state media more effusive than at any time since before the breakdown in Sino-Australian relations in 2020. A few agreements to boost trade and tourism links have been reached. But the increased dialogue and co-operation in areas from green steel to medical technology were part of a gradual improvement in relations that would advance Australia's national interests, Mr Albanese said. "You don't go from a position of where we were into absolute agreement on everything. That's not the goal." Despite the improving mood, China and Australia still have many issues they disagree on. In meetings with Chinese President Xi Jinping and Premier Li Qiang, Mr Albanese raised concerns over China not providing advance notice of naval live-fire drills off Australia that forced commercial flights to divert. Meanwhile, Mr Li has voiced his dismay over Australia's stringent restrictions on foreign investment from China, imploring the Australian government not to treat Chinese firms unfairly. "We have different political systems, but it has been constructive and has been an important step in the developing of our relationship," Mr Albanese said. Anthony Albanese has hit back at the coalition over claims of "indulgence" during his China trip, saying his rivals don't understand the importance of respect in diplomacy. The prime minister's itinerary has included retracing the steps of Gough Whitlam on the Great Wall of China and a panda research centre in the southwestern city of Chengdu as his visit nears the end. Back home, the optics of visiting popular tourist sites attracted sniping from the opposition. Coalition frontbencher James Paterson suggested the prime minister was enjoying himself too much. "I do wonder whether a Gough Whitlam history tour on the Great Wall of China, whether a visit to Chengdu to pose with some pandas, and whether a hit of tennis is strictly necessary as part of a six-day visit to China, when there is so much else at stake in our other international relationships around the world," he told Sky News on Thursday. "And frankly, I have to say that some of this is starting to look a little bit indulgent." Mr Albanese has himself been eager to draw links between his tour and those of former Labor prime ministers Whitlam and Bob Hawke, who also visited the giant pandas in 1986. What those and his visits achieved was building respect between Australia and China, which would in turn result in better economic and diplomatic outcomes, he said. "Those pictures go to 27 million people, potentially, in Australia. They go to over a billion people in China," Mr Albanese told reporters in Chengdu. "And those billion people represent people who are increasingly rising up the income ladder and are potential tourists and therefore job creators in Australia. "If James Patterson doesn't understand that, then he doesn't understand much. "The Great Wall of China symbolises the extraordinary history and culture here in China, and showing a bit of respect to people never cost anything. You know what it does, it gives you a reward." Mr Albanese's trip has been shorter on concrete outcomes than in previous years, when his resumption of dialogue with China saw $20 billion worth of Chinese trade sanctions lifted from Australian exports. But the welcome has been warmer and coverage from Chinese state media more effusive than at any time since before the breakdown in Sino-Australian relations in 2020. A few agreements to boost trade and tourism links have been reached. But the increased dialogue and co-operation in areas from green steel to medical technology were part of a gradual improvement in relations that would advance Australia's national interests, Mr Albanese said. "You don't go from a position of where we were into absolute agreement on everything. That's not the goal." Despite the improving mood, China and Australia still have many issues they disagree on. In meetings with Chinese President Xi Jinping and Premier Li Qiang, Mr Albanese raised concerns over China not providing advance notice of naval live-fire drills off Australia that forced commercial flights to divert. Meanwhile, Mr Li has voiced his dismay over Australia's stringent restrictions on foreign investment from China, imploring the Australian government not to treat Chinese firms unfairly. "We have different political systems, but it has been constructive and has been an important step in the developing of our relationship," Mr Albanese said. Anthony Albanese has hit back at the coalition over claims of "indulgence" during his China trip, saying his rivals don't understand the importance of respect in diplomacy. The prime minister's itinerary has included retracing the steps of Gough Whitlam on the Great Wall of China and a panda research centre in the southwestern city of Chengdu as his visit nears the end. Back home, the optics of visiting popular tourist sites attracted sniping from the opposition. Coalition frontbencher James Paterson suggested the prime minister was enjoying himself too much. "I do wonder whether a Gough Whitlam history tour on the Great Wall of China, whether a visit to Chengdu to pose with some pandas, and whether a hit of tennis is strictly necessary as part of a six-day visit to China, when there is so much else at stake in our other international relationships around the world," he told Sky News on Thursday. "And frankly, I have to say that some of this is starting to look a little bit indulgent." Mr Albanese has himself been eager to draw links between his tour and those of former Labor prime ministers Whitlam and Bob Hawke, who also visited the giant pandas in 1986. What those and his visits achieved was building respect between Australia and China, which would in turn result in better economic and diplomatic outcomes, he said. "Those pictures go to 27 million people, potentially, in Australia. They go to over a billion people in China," Mr Albanese told reporters in Chengdu. "And those billion people represent people who are increasingly rising up the income ladder and are potential tourists and therefore job creators in Australia. "If James Patterson doesn't understand that, then he doesn't understand much. "The Great Wall of China symbolises the extraordinary history and culture here in China, and showing a bit of respect to people never cost anything. You know what it does, it gives you a reward." Mr Albanese's trip has been shorter on concrete outcomes than in previous years, when his resumption of dialogue with China saw $20 billion worth of Chinese trade sanctions lifted from Australian exports. But the welcome has been warmer and coverage from Chinese state media more effusive than at any time since before the breakdown in Sino-Australian relations in 2020. A few agreements to boost trade and tourism links have been reached. But the increased dialogue and co-operation in areas from green steel to medical technology were part of a gradual improvement in relations that would advance Australia's national interests, Mr Albanese said. "You don't go from a position of where we were into absolute agreement on everything. That's not the goal." Despite the improving mood, China and Australia still have many issues they disagree on. In meetings with Chinese President Xi Jinping and Premier Li Qiang, Mr Albanese raised concerns over China not providing advance notice of naval live-fire drills off Australia that forced commercial flights to divert. Meanwhile, Mr Li has voiced his dismay over Australia's stringent restrictions on foreign investment from China, imploring the Australian government not to treat Chinese firms unfairly. "We have different political systems, but it has been constructive and has been an important step in the developing of our relationship," Mr Albanese said. Anthony Albanese has hit back at the coalition over claims of "indulgence" during his China trip, saying his rivals don't understand the importance of respect in diplomacy. The prime minister's itinerary has included retracing the steps of Gough Whitlam on the Great Wall of China and a panda research centre in the southwestern city of Chengdu as his visit nears the end. Back home, the optics of visiting popular tourist sites attracted sniping from the opposition. Coalition frontbencher James Paterson suggested the prime minister was enjoying himself too much. "I do wonder whether a Gough Whitlam history tour on the Great Wall of China, whether a visit to Chengdu to pose with some pandas, and whether a hit of tennis is strictly necessary as part of a six-day visit to China, when there is so much else at stake in our other international relationships around the world," he told Sky News on Thursday. "And frankly, I have to say that some of this is starting to look a little bit indulgent." Mr Albanese has himself been eager to draw links between his tour and those of former Labor prime ministers Whitlam and Bob Hawke, who also visited the giant pandas in 1986. What those and his visits achieved was building respect between Australia and China, which would in turn result in better economic and diplomatic outcomes, he said. "Those pictures go to 27 million people, potentially, in Australia. They go to over a billion people in China," Mr Albanese told reporters in Chengdu. "And those billion people represent people who are increasingly rising up the income ladder and are potential tourists and therefore job creators in Australia. "If James Patterson doesn't understand that, then he doesn't understand much. "The Great Wall of China symbolises the extraordinary history and culture here in China, and showing a bit of respect to people never cost anything. You know what it does, it gives you a reward." Mr Albanese's trip has been shorter on concrete outcomes than in previous years, when his resumption of dialogue with China saw $20 billion worth of Chinese trade sanctions lifted from Australian exports. But the welcome has been warmer and coverage from Chinese state media more effusive than at any time since before the breakdown in Sino-Australian relations in 2020. A few agreements to boost trade and tourism links have been reached. But the increased dialogue and co-operation in areas from green steel to medical technology were part of a gradual improvement in relations that would advance Australia's national interests, Mr Albanese said. "You don't go from a position of where we were into absolute agreement on everything. That's not the goal." Despite the improving mood, China and Australia still have many issues they disagree on. In meetings with Chinese President Xi Jinping and Premier Li Qiang, Mr Albanese raised concerns over China not providing advance notice of naval live-fire drills off Australia that forced commercial flights to divert. Meanwhile, Mr Li has voiced his dismay over Australia's stringent restrictions on foreign investment from China, imploring the Australian government not to treat Chinese firms unfairly. "We have different political systems, but it has been constructive and has been an important step in the developing of our relationship," Mr Albanese said.
Perth Now
2 hours ago
- Perth Now
Ukraine shakes up cabinet to reinvigorate war effort
Ukraine's economy minister and the key negotiator in the mineral deal with the US has been appointed as its new prime minister, becoming the country's first new head of government since the start of Russia's full-scale invasion in 2022. Yuliia Svyrydenko is one of a group of officials taking on new roles in Ukraine's government as President Volodymyr Zelenskiy reshuffles the cabinet in a bid to energise a war-weary nation and boost domestic weapons production in the face of Russia's grinding invasion. At home, however, the cabinet recalibration has not been seen as a major shift as the Ukrainian leader continues to rely on officials who have proven their effectiveness and loyalty during the war, now in its fourth year. Zelenskiy submitted nominations on Thursday to shuffle top government positions, including the replacement of Prime Minister Denys Shmyhal, the longest-serving head of government in Ukraine's history. Shmyhal moves to become defence minister, according to the parliamentary website. Other changes are expected in the cabinet, but Svyrydenko's appointment as prime minister is taking centre stage. She played a key role in negotiating a US-Ukraine mineral agreement, ensuring the terms were acceptable to Kyiv. Svyrydenko has frequently represented Ukraine in high-level talks with Western partners, focusing on defence co-operation, economic recovery and reconstruction. MPs and fellow officials describe her as a diligent executive with a reputation for loyalty to the presidential office. On Tuesday, Zelenskiy posted a photo with Svyrydenko and Digital Transformation Minister Mykhailo Fedorov, writing that the focus for the next six months would be increasing domestic weapons production, fully contracting all types of drones for Ukraine's defence forces, easing regulations to unlock economic potential, and ensuring delivery of social support programs. Shmyhal announced his resignation as prime minister on Tuesday. He held the position for more than five years after being appointed in March 2020. Ukrainian analysts and local media have rarely portrayed Shmyhal as an independent political figure or a counterweight to Zelenskiy. Like Svyrydenko, he is seen as loyal to the president and his team. His new post as defence minister means he is not leaving government entirely, but instead remains in the cabinet in a powerful role. The defence ministry commands one of the largest budgets and carries critical importance because of the war. Shmyhal will replace Rustem Umerov, who, although he sought to push reforms, saw his tenure marked by internal turbulence and persistent dysfunction in Ukraine's defence procurement system. Despite his active role on the international stage, critics said the ministry remained plagued by mismanagement.
The Advertiser
2 hours ago
- The Advertiser
Ukraine shakes up cabinet to reinvigorate war effort
Ukraine's economy minister and the key negotiator in the mineral deal with the US has been appointed as its new prime minister, becoming the country's first new head of government since the start of Russia's full-scale invasion in 2022. Yuliia Svyrydenko is one of a group of officials taking on new roles in Ukraine's government as President Volodymyr Zelenskiy reshuffles the cabinet in a bid to energise a war-weary nation and boost domestic weapons production in the face of Russia's grinding invasion. At home, however, the cabinet recalibration has not been seen as a major shift as the Ukrainian leader continues to rely on officials who have proven their effectiveness and loyalty during the war, now in its fourth year. Zelenskiy submitted nominations on Thursday to shuffle top government positions, including the replacement of Prime Minister Denys Shmyhal, the longest-serving head of government in Ukraine's history. Shmyhal moves to become defence minister, according to the parliamentary website. Other changes are expected in the cabinet, but Svyrydenko's appointment as prime minister is taking centre stage. She played a key role in negotiating a US-Ukraine mineral agreement, ensuring the terms were acceptable to Kyiv. Svyrydenko has frequently represented Ukraine in high-level talks with Western partners, focusing on defence co-operation, economic recovery and reconstruction. MPs and fellow officials describe her as a diligent executive with a reputation for loyalty to the presidential office. On Tuesday, Zelenskiy posted a photo with Svyrydenko and Digital Transformation Minister Mykhailo Fedorov, writing that the focus for the next six months would be increasing domestic weapons production, fully contracting all types of drones for Ukraine's defence forces, easing regulations to unlock economic potential, and ensuring delivery of social support programs. Shmyhal announced his resignation as prime minister on Tuesday. He held the position for more than five years after being appointed in March 2020. Ukrainian analysts and local media have rarely portrayed Shmyhal as an independent political figure or a counterweight to Zelenskiy. Like Svyrydenko, he is seen as loyal to the president and his team. His new post as defence minister means he is not leaving government entirely, but instead remains in the cabinet in a powerful role. The defence ministry commands one of the largest budgets and carries critical importance because of the war. Shmyhal will replace Rustem Umerov, who, although he sought to push reforms, saw his tenure marked by internal turbulence and persistent dysfunction in Ukraine's defence procurement system. Despite his active role on the international stage, critics said the ministry remained plagued by mismanagement. Ukraine's economy minister and the key negotiator in the mineral deal with the US has been appointed as its new prime minister, becoming the country's first new head of government since the start of Russia's full-scale invasion in 2022. Yuliia Svyrydenko is one of a group of officials taking on new roles in Ukraine's government as President Volodymyr Zelenskiy reshuffles the cabinet in a bid to energise a war-weary nation and boost domestic weapons production in the face of Russia's grinding invasion. At home, however, the cabinet recalibration has not been seen as a major shift as the Ukrainian leader continues to rely on officials who have proven their effectiveness and loyalty during the war, now in its fourth year. Zelenskiy submitted nominations on Thursday to shuffle top government positions, including the replacement of Prime Minister Denys Shmyhal, the longest-serving head of government in Ukraine's history. Shmyhal moves to become defence minister, according to the parliamentary website. Other changes are expected in the cabinet, but Svyrydenko's appointment as prime minister is taking centre stage. She played a key role in negotiating a US-Ukraine mineral agreement, ensuring the terms were acceptable to Kyiv. Svyrydenko has frequently represented Ukraine in high-level talks with Western partners, focusing on defence co-operation, economic recovery and reconstruction. MPs and fellow officials describe her as a diligent executive with a reputation for loyalty to the presidential office. On Tuesday, Zelenskiy posted a photo with Svyrydenko and Digital Transformation Minister Mykhailo Fedorov, writing that the focus for the next six months would be increasing domestic weapons production, fully contracting all types of drones for Ukraine's defence forces, easing regulations to unlock economic potential, and ensuring delivery of social support programs. Shmyhal announced his resignation as prime minister on Tuesday. He held the position for more than five years after being appointed in March 2020. Ukrainian analysts and local media have rarely portrayed Shmyhal as an independent political figure or a counterweight to Zelenskiy. Like Svyrydenko, he is seen as loyal to the president and his team. His new post as defence minister means he is not leaving government entirely, but instead remains in the cabinet in a powerful role. The defence ministry commands one of the largest budgets and carries critical importance because of the war. Shmyhal will replace Rustem Umerov, who, although he sought to push reforms, saw his tenure marked by internal turbulence and persistent dysfunction in Ukraine's defence procurement system. Despite his active role on the international stage, critics said the ministry remained plagued by mismanagement. Ukraine's economy minister and the key negotiator in the mineral deal with the US has been appointed as its new prime minister, becoming the country's first new head of government since the start of Russia's full-scale invasion in 2022. Yuliia Svyrydenko is one of a group of officials taking on new roles in Ukraine's government as President Volodymyr Zelenskiy reshuffles the cabinet in a bid to energise a war-weary nation and boost domestic weapons production in the face of Russia's grinding invasion. At home, however, the cabinet recalibration has not been seen as a major shift as the Ukrainian leader continues to rely on officials who have proven their effectiveness and loyalty during the war, now in its fourth year. Zelenskiy submitted nominations on Thursday to shuffle top government positions, including the replacement of Prime Minister Denys Shmyhal, the longest-serving head of government in Ukraine's history. Shmyhal moves to become defence minister, according to the parliamentary website. Other changes are expected in the cabinet, but Svyrydenko's appointment as prime minister is taking centre stage. She played a key role in negotiating a US-Ukraine mineral agreement, ensuring the terms were acceptable to Kyiv. Svyrydenko has frequently represented Ukraine in high-level talks with Western partners, focusing on defence co-operation, economic recovery and reconstruction. MPs and fellow officials describe her as a diligent executive with a reputation for loyalty to the presidential office. On Tuesday, Zelenskiy posted a photo with Svyrydenko and Digital Transformation Minister Mykhailo Fedorov, writing that the focus for the next six months would be increasing domestic weapons production, fully contracting all types of drones for Ukraine's defence forces, easing regulations to unlock economic potential, and ensuring delivery of social support programs. Shmyhal announced his resignation as prime minister on Tuesday. He held the position for more than five years after being appointed in March 2020. Ukrainian analysts and local media have rarely portrayed Shmyhal as an independent political figure or a counterweight to Zelenskiy. Like Svyrydenko, he is seen as loyal to the president and his team. His new post as defence minister means he is not leaving government entirely, but instead remains in the cabinet in a powerful role. The defence ministry commands one of the largest budgets and carries critical importance because of the war. Shmyhal will replace Rustem Umerov, who, although he sought to push reforms, saw his tenure marked by internal turbulence and persistent dysfunction in Ukraine's defence procurement system. Despite his active role on the international stage, critics said the ministry remained plagued by mismanagement. Ukraine's economy minister and the key negotiator in the mineral deal with the US has been appointed as its new prime minister, becoming the country's first new head of government since the start of Russia's full-scale invasion in 2022. Yuliia Svyrydenko is one of a group of officials taking on new roles in Ukraine's government as President Volodymyr Zelenskiy reshuffles the cabinet in a bid to energise a war-weary nation and boost domestic weapons production in the face of Russia's grinding invasion. At home, however, the cabinet recalibration has not been seen as a major shift as the Ukrainian leader continues to rely on officials who have proven their effectiveness and loyalty during the war, now in its fourth year. Zelenskiy submitted nominations on Thursday to shuffle top government positions, including the replacement of Prime Minister Denys Shmyhal, the longest-serving head of government in Ukraine's history. Shmyhal moves to become defence minister, according to the parliamentary website. Other changes are expected in the cabinet, but Svyrydenko's appointment as prime minister is taking centre stage. She played a key role in negotiating a US-Ukraine mineral agreement, ensuring the terms were acceptable to Kyiv. Svyrydenko has frequently represented Ukraine in high-level talks with Western partners, focusing on defence co-operation, economic recovery and reconstruction. MPs and fellow officials describe her as a diligent executive with a reputation for loyalty to the presidential office. On Tuesday, Zelenskiy posted a photo with Svyrydenko and Digital Transformation Minister Mykhailo Fedorov, writing that the focus for the next six months would be increasing domestic weapons production, fully contracting all types of drones for Ukraine's defence forces, easing regulations to unlock economic potential, and ensuring delivery of social support programs. Shmyhal announced his resignation as prime minister on Tuesday. He held the position for more than five years after being appointed in March 2020. Ukrainian analysts and local media have rarely portrayed Shmyhal as an independent political figure or a counterweight to Zelenskiy. Like Svyrydenko, he is seen as loyal to the president and his team. His new post as defence minister means he is not leaving government entirely, but instead remains in the cabinet in a powerful role. The defence ministry commands one of the largest budgets and carries critical importance because of the war. Shmyhal will replace Rustem Umerov, who, although he sought to push reforms, saw his tenure marked by internal turbulence and persistent dysfunction in Ukraine's defence procurement system. Despite his active role on the international stage, critics said the ministry remained plagued by mismanagement.
