The United States and Russia have reportedly begun discussions about potential joint mining projects involving rare earth minerals, according to Kirill Dmitriev, head of Russia’s Direct Investment Fund, in an interview with Russian media outlet 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, noting that several companies have already shown interest.
However, he did not name the companies involved or share additional details about the negotiations.
According to Russian state media, the topic of mining cooperation could be on the agenda at the next U.S.-Russia talks, which are set to take place in mid-April in Saudi Arabia.
Russia has previously claimed that it holds far more mineral reserves than Ukraine and is open to working with both the U.S. and other international partners in the field.
In an earlier statement, President Vladimir Putin expressed readiness to collaborate with the United States on mineral trade, including resources located in Russian-occupied territories in Ukraine.
During an interview with state media on February 24, 2025, Putin said:
“We are ready to work with our partners, including the Americans,” referring to mineral reserves throughout Russia and the occupied Donetsk region in Ukraine.
He also suggested that Russia might be able to offer better terms than Kyiv when it comes to access to these critical resources.
