Russia, US discussing minerals plan

MOSCOW: Russia and the United States have started talks on joint rare earth metals and other projects in Russia, and some companies have already expressed an interest in them, President Vladimir Putin’s investment envoy said in remarks published in the media yesterday.

- 

Amid efforts by US President Donald Trump to end the war in Ukraine, minerals cooperation has been floated by both Kyiv and Moscow, though Mr Trump said on Sunday that Ukrainian President Volodymyr Zelensky wants to back out of a proposed deal.

Mr Putin in February suggested that the United States might be interested in exploring joint exploration for rare earth metals deposits in Russia, which has the world’s fifth largest reserves of the metals used in lasers and military equipment.

Kirill Dmitriev, Kremlin special envoy on international economic and investment cooperation, told the Izvestia newspaper in remarks published yesterday that talks had already begun.

“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 Mr Dmitriev, who is also the CEO of the Russian Direct Investment Fund.

Mr Dmitriev, who was part of Russia’s negotiating team at talks with US officials in Saudi Arabia in February, said some companies have already shown interest in the projects. He did not name any companies and did not reveal further details.