Putin proposes U.S.-Russia collaboration on rare Earth metals in occupied Ukrainian territories
Russian president Vladimir Putin convened a meeting focused on the development of the rare earth metals sector in Russia, according to Russian media outlets. At the subsequent press conference, Putin asserted Russia's reserves of rare earth metals "significantly exceed" those found in Ukraine and announced Moscow's readiness to engage with interested partners. He highlighted the potential for Russia and the United States to initiate joint ventures, proposing aluminum extraction in the Krasnoyarsk region and rare earth metals operations on territories occupied by Russia in Ukraine. "Donbas and Novorossiya [Eastern Ukraine] could become collaborative zones for the U.S. and Russia on rare earth metal projects," stated Putin.
Russia is prepared to supply up to 2 million tons of aluminum to the American market to stabilize prices. Major deposits of Russia's rare earth metals are positioned in the Murmansk region, Krasnoyarsk, Yakutia, and other areas. Despite these rich resources, Russia lags behind global leaders such as China in mining and processing.
In parallel, former U.S. President Donald Trump mentioned on Truth Social that he is engaged in "serious negotiations" with Putin, addressing both the cessation of military conflict and potential economic ventures between the two nations.
The U.S. recently suggested Ukraine sign a deal ceding a portion of its rare earth metals to American interests. Ukraine's President Volodymyr Zelensky turned down the proposed agreement, citing the absence of security guarantees for Ukraine within the document.