The United States and Russia have begun talks on potential joint mining of rare earth minerals projects, said Kirill Dmitriev, head of Russia’s Direct Investment Fund in an interview with Russian media Izvestia on March 31.
“Rare earth metals are an important area for cooperation, and we have certainly started discussions about various rare earth metals and projects in Russia,” Dmitriev said, adding that several companies have expressed interest.
However, he did not disclose which companies were involved or provide further details on the negotiations.
The Russian state media outlet claims that mining cooperation could be a topic of discussion during the next round of US-Russia talks, scheduled for mid-April in Saudi Arabia.
Previously, Russia stated that it has significantly larger mineral reserves than Ukraine and could collaborate with both the US and other countries in the sector.
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Earlier, Russian leader Vladimir Putin expressed willingness to cooperate with the United States on mineral trade, including resources from Russian-occupied parts of Ukraine.
Amid discussions about Ukraine’s critical minerals, Putin suggested that Russia could provide a more favorable deal than Kyiv.
Speaking to state media on February 24, 2025, he stated, “We are ready to work with our partners, including the Americans,” referencing mineral reserves across Russia, as well as in the occupied Donetsk region in Ukraine.
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