Moscow, February 26 (Russia Today) – US President Donald Trump has indicated that he is open to the idea of jointly developing Russia’s mineral deposits, following a proposal by President Vladimir Putin earlier this week.

Moscow is prepared to collaborate with Washington on developing rare-earth mineral deposits, including those in Russia’s Donetsk and Lugansk People’s Republics, as well as the Kherson and Zaporozhye regions, Putin said on Monday.

When asked on Tuesday whether he and Putin had discussed the possibility of such a deal, Trump acknowledged his interest.

“I’d like to buy minerals on Russian land, too, if we can… They have very good rare earths, also, and oil and gas. Look, it’s a great thing,” Trump told journalists at the White House. “It’s great for Russia, too, because we could do deals there. They have very valuable land that isn’t utilized. So something like that could take place, yeah.”

Putin noted that Moscow would prioritize its own development of rare-earth minerals due to their strategic importance across multiple economic sectors. However, he added that Russia was open to cooperation with international partners, including from the US, should they express interest.

The Trump administration has shown increasing interest in rare earth and other metals as part of the US president’s push to secure returns on American “investments” in the Ukraine conflict. Trump has demanded the equivalent of up to $500 billion in natural resources as compensation for aid already provided to Kiev. After multiple delays, Kiev has reportedly agreed to the deal, with Ukrainian leader Vladimir Zelensky expected to visit Washington on Friday to sign the agreement.

“I hear that he’s coming on Friday. Certainly, it’s okay with me if he’d like to sign it together with me, and I understand that’s a big deal, very big deal… the American taxpayer now is going to get their money back plus,” Trump said.

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The rare earths deal Trump is pursuing with Ukraine “doesn’t concern” Moscow, Putin said in an interview with Rossiya 1 TV journalist Pavel Zarubin, noting that the actual value of Ukraine’s mineral deposits remains uncertain.

Before the escalation of the Ukraine conflict in 2022, the country held Europe’s largest titanium and lithium reserves. While these metals are not classified as rare-earth elements, they are crucial for the defense sector, as well as for battery and capacitor production. Ukraine’s rare-earth metal deposits also include beryllium, manganese, gallium, uranium, zirconium, graphite, apatite, fluorite, and nickel.

In 2023, Forbes Ukraine estimated that the country’s mineral resources were worth approximately $14.8 trillion, amounting to 111 billion metric tons, with coal and iron ore making up the majority. However, the publication noted that over 70% of these resources are located in the Donetsk and Lugansk regions, which declared independence from Ukraine in 2014 following the Western-backed Maidan coup in Kiev. These territories came under Russian control after referendums in 2022, when the regions voted to join Russia.

Russia ready to work with US on rare earths – Putin

Moscow is ready to work with Washington in developing rare-earth mineral deposits, including in the Donetsk and Lugansk People’s Republics, and Kherson and Zaporozhye regions, Russian President Vladimir Putin has said.

The rare earths deal US President Donald Trump’s administration is pushing for with Ukraine “doesn’t concern” Moscow, Putin said in an interview with Russia 1 TV journalist Pavel Zarubin on Monday.

The actual value of Ukraine’s rare-earth mineral deposits remains to be seen, the Russian leader noted.

Moscow will be concentrating on its own development of rare-earth minerals, given their importance in multiple sectors of the economy, he said.

“We would be ready to offer this to our American partners… if they showed interest in working together,” Putin said, stressing that he meant both private and government companies.

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As one of the global leaders in terms of its rare-earth mineral wealth, Russia is willing to work with international investors in developing its deposits, he said.

“This includes the new territories,” Putin added. “Our new historical territories, which were returned to the Russian Federation, also hold significant reserves.”

The Donetsk and Lugansk People’s Republics, and Kherson and Zaporozhye regions joined the Russian Federation following referendums in 2022.

While Forbes estimated the total value of mineral deposits of Ukraine at nearly $15 trillion in 2023, nearly half of the total mineral wealth lies in the Russia’s Donetsk and Lugansk People’s Republics.

https://www.rt.com/russia/613253-putin-russia-us-rare-earths

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