Moscow and Washington have started discussions on joint initiatives concerning rare earth metals in Russia. This was confirmed by Kirill Dmitriev, Russia’s special envoy on international economic and investment cooperation, during an interview with the Izvestia media outlet.
Dmitriev, who also leads the Russian Direct Investment Fund, highlighted the strategic importance of rare earth metals for both nations.
“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,” Dmitriev remarked.
This dialogue comes in the wake of growing global interest in rare earths, critical for high-tech industries. These metals are indispensable in manufacturing electronics, renewable energy components, and advanced defense systems.
Russian President Vladimir Putin has proposed a future economic deal with the United States to jointly explore Russia’s rare earth metal deposits. This follows U.S.-Ukraine negotiations over a draft minerals agreement. Putin’s offer aims to position Russia as a key player in the rare earths market while fostering economic cooperation with Washington.
Dmitriev, who participated in February’s talks with U.S. officials in Saudi Arabia, revealed that several companies have already shown interest in these initiatives. However, he refrained from naming the companies or disclosing additional details.
The discussions may advance further during the next round of Russia-U.S. talks, anticipated to take place in mid-April in Saudi Arabia. These meetings are expected to refine the scope of collaboration and solidify agreements on rare earth metal projects.
The U.S. has intensified its focus on diversifying rare earth supply chains to reduce reliance on China, which currently dominates the sector. This renewed interest aligns with U.S. President Donald Trump’s push for bolstering domestic and allied capacities in critical metal industries.
