Russia and the United States have officially begun discussions on potential cooperation in rare earth metals and related industrial projects within Russian territory, according to a report by RIA Novosti. The announcement was made by Kirill Dmitriev, CEO of the Russian Direct Investment Fund (RDIF), who confirmed that early talks are underway and gaining momentum.

“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 stated. He also noted that several companies have already expressed interest in taking part in these initiatives, indicating tangible private sector involvement from both nations.

This move marks a rare moment of economic diplomacy between the two countries, focused on an area considered critical for advanced manufacturing, renewable energy technologies, and national security. Rare earth elements are key components in high-tech devices, electric vehicles, and military applications, making their supply and access a strategic priority for the United States.

U.S. President Donald Trump acknowledged earlier in March that Russia possesses “very valuable things” for the United States, specifically highlighting its “very big forms” of rare earth metals. His comments signal a pragmatic approach to international partnerships involving key resources, aligning with his administration's efforts to diversify supply chains and reduce dependence on other major suppliers like China.

While the full scope and structure of the potential projects remain under discussion, the opening of dialogue represents a notable step in advancing U.S.–Russia economic relations under President Trump’s second term. Further announcements are expected as both sides continue exploring collaborative frameworks and investment opportunities in this strategically vital sector.