Russia, US Start Talks on Rare Earth Metals Projects in Russia

Moscow and Washington have started talks on joint rare earth metals and other projects in Russia, Russia's special envoy on international economic and investment cooperation told the Izvestia media outlet in remarks 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," Kirill Dmitriev, who is also the CEO of the Russian Direct Investment Fund, told Izvestia.

Putin, following negotiations between the U.S. and Ukraine over a draft minerals deal, has offered the U.S., under a future economic deal, to jointly explore Russia's rare earth metal deposits.

Dmitriev, who was part of Russia's negotiating team at talks with U.S. 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.

Izvestia reported the cooperation may be further discussed at the next round of Russia-U.S. talks that may take place in mid-April in Saudi Arabia.

Rare earths and other critical metals, essential for high-tech industries, have gained global attention in recent months as U.S. President Donald Trump spurred efforts to counter China's dominance in the sector.