Russia, US yet to sign rare-earth mining deals, Kremlin confirm

Russia and the United States have not signed any agreements regarding joint projects for the extraction of rare-earth metals, Kremlin spokesperson Dmitry Peskov confirmed.

In response to reporters' questions, Peskov emphasized that no such documents have been signed, citing ongoing sanctions and restrictions on US companies. "No, no documents have been signed. You know that sanctions are still in force, there are restrictions for US companies," Peskov stated, Caliber.Az reports citing Russian media.

Despite the absence of specific agreements on rare-earth mining, Peskov reiterated that Russia continues to engage with the United States in an effort to rebuild bilateral relations, which had been severely strained during the previous US administration. He also noted that both countries are working on initiatives related to the resolution of the ongoing conflict in Ukraine.

Earlier, it was reported that British Prime Minister Keir Starmer and former US President Donald Trump had discussed strategies to exert pressure on Russian President Vladimir Putin. 

Meanwhile, President Vladimir Putin's investment envoy, Kirill Dmitriev underlined that Russia and the United States have initiated discussions on potential joint projects related to rare earth metals and other ventures within Russia. Dmitriev stated that some companies have already expressed interest in these opportunities.

Efforts to explore mineral cooperation have emerged amid US President Donald Trump’s attempts to end the war in Ukraine, with both Kyiv and Moscow broaching the topic of joint ventures in rare earth metals. However, Trump mentioned on Sunday that Ukrainian President Volodymyr Zelenskyy appears to be hesitant about a proposed deal.

Earlier this year, Putin suggested that the United States might be interested in partnering with Russia to explore rare earth metal deposits. Russia, which holds the world's fifth-largest reserves of these vital minerals used in lasers and military technology, could play a significant role in such a partnership.

Kirill Dmitriev, who serves as both Russia’s special envoy for international economic and investment cooperation and the CEO of the Russian Direct Investment Fund, confirmed that talks had already commenced. "Rare earth metals are a crucial area for cooperation, and we have begun discussions on various rare earth metals and other projects in Russia," Dmitriev told the Izvestia newspaper.

Dmitriev, who was part of the Russian delegation during negotiations with US officials in Saudi Arabia in February, added that several companies have already shown interest in these potential projects. However, he refrained from disclosing specific names or further details at this stage.

Meanwhile, Trump expressed frustration with Russian President Vladimir Putin during a recent interview, saying he was "pissed off" and would impose secondary tariffs of 25 per cent to 50 per cent on Russian oil buyers if Moscow obstructed his efforts to bring the war in Ukraine to an end. Trump voiced his anger over Putin's recent criticisms of Zelenskyy’s leadership but emphasized that progress was still being made, albeit incrementally.

On Russia-Ukraine war, Peskov told reporters that Moscow and Washington are actively working on the implementation of certain proposals aimed at resolving the ongoing conflict in Ukraine, although no concrete details have yet emerged.

Peskov explained that discussions are underway regarding ideas for a potential resolution to the Ukrainian crisis. However, he emphasized that due to the complexity and sensitivity of the matter, there are currently no specific outcomes to share.

"We are working on the implementation of some ideas related to the Ukrainian settlement. The work is underway, so far there are no specifics that we could and should have informed you about. This is a time-stretched process related to the complexity of the substance," Peskov stated.

By Vafa Guliyeva