The United States and Ukraine are close to signing a new strategic agreement on critical minerals, President Donald Trump said Monday, almost a month since the explosive showdown between Trump and Ukrainian President Volodymyr Zelensky at the White House.

“We’re doing very well with regard to Ukraine and Russia,” Trump told reporters at the White House. “One of the things we are doing is signing a deal very shortly with respect to rare earths with Ukraine.”

The revived negotiations coincide with US efforts to broker a Russia-Ukraine peace deal. Trump authorized expanded domestic mineral production through a Defense Production Act directive issued before his remarks.

Zelensky clarified last week that power infrastructure discussions concerned “only one power plant” — the Russian-occupied Zaporizhzhia nuclear facility.

According to administration officials, the proposed agreement would create a fund receiving half of Ukraine’s state-controlled mineral revenues. The arrangement includes provisions for reinvesting these funds annually in Ukraine’s security and economy.

“It’s a big thing in this country,” Trump said of securing rare earth supplies.

Ukraine initially rejected earlier proposals over inadequate security guarantees. The current version addresses these concerns while helping the US reduce mineral dependency on other nations.

Read: Ukraine Pitches Truce With Russia and US Minerals Deal Following Trump Tantrum 

A US delegation met with Russian and Ukrainian representatives Sunday in Riyadh, focusing primarily on a Black Sea ceasefire. Trump described these broader peace efforts as progressing “pretty well.”

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