Moscow and Washington have initiated discussions on potential joint projects involving rare earth metals and other critical resources in Russia, according to Russia's special envoy on international economic and investment cooperation, Kirill Dmitriev.
The announcement was made in an interview with Izvestia published on Monday.
"Rare earth metals are an important area for cooperation, and, of course, we have begun discussions on various rare earth metals and (other) projects in Russia," said Dmitriev, who also serves as the CEO of the Russian Direct Investment Fund (RDIF).
The talks reportedly come as Russian President Vladimir Putin extended an offer to the United States for a future economic agreement involving joint exploration of Russia's rare earth metal deposits. This proposal follows negotiations between the U.S. and Ukraine over a draft minerals deal.
Dmitriev, part of Russia's negotiating team during talks with U.S. officials in Saudi Arabia in February, confirmed that some companies have already expressed interest in the projects. However, he did not disclose the names of the companies or provide further details.
According to Izvestia, the possibility of cooperation may be further discussed at the next round of Russia-U.S. talks, which are tentatively scheduled for mid-April in Saudi Arabia.
Rare earth metals and other critical minerals are essential for high-tech industries, including electronics, renewable energy, and defense technologies. The discussions between Moscow and Washington come amid growing U.S. efforts to reduce dependence on China’s dominance in the global supply chain for these vital resources.
U.S. President Donald Trump has previously emphasized the importance of securing alternative sources of rare earths, with both economic and national security implications at stake.
As the U.S. and Russia explore potential cooperation in this sector, the outcome of these discussions could have significant implications for global supply chains and geopolitical dynamics.
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