Rare Earth Diplomacy: Russia-U.S. Talks Spark New Prospects

Russia and the U.S. are discussing potential collaboration on rare earth metals projects in Russia. Talks are influenced by geopolitical tensions and efforts to end the Ukraine conflict. The cooperation is seen as a move to counter China's dominance in the rare earths market.

Amidst ongoing geopolitical tensions, Russia and the United States have embarked on discussions focused on joint rare earth metals projects, with some firms already expressing interest, according to Kremlin investment envoy Kirill Dmitriev.

This development comes as President Donald Trump attempts to resolve the Ukraine crisis. The rare earths cooperation, introduced by President Vladimir Putin, represents a strategic initiative to lessen global dependency on China, which currently controls 95% of global rare earth production.

Despite mounting diplomatic strain, Trump has signaled hope for progress in negotiations, while discussions around rare earth collaboration continue to gain momentum, potentially being revisited in Saudi Arabia talks set for April.

(With inputs from agencies.)