Putin Orders Developing Russia’s Rare-Earth Mineral Sector
(MENAFN) Russian President Vladimir Putin has directed the government to create a long-term plan for the extraction and production of rare-earth minerals, according to a statement released on the Kremlin’s website on Tuesday.
The decree mandates that the cabinet finalize a comprehensive “roadmap” for the industry by December.
This sector is considered essential for a wide array of contemporary technologies, ranging from smartphones to military equipment.
Putin has characterized the industry as a strategic asset crucial for enhancing Russia’s international competitiveness and fostering sustainable economic development.
During his speech at last month’s Eastern Economic Forum (EEF), he highlighted the importance of stimulating domestic demand and implementing advanced processing methods.
Russia possesses approximately 658 million tons of rare metals, including 28.5 million tons of 15 types of rare-earth elements, according to the Natural Resources Ministry.
The ministry asserts that these reserves are adequate to meet current economic requirements and guarantee long-term supply.
Global demand for rare-earth minerals has intensified amid escalating trade frictions between Washington and Beijing. As the world’s leading producer of rare-earths, China has limited exports in reaction to US tariffs, causing supply challenges for the automotive and other high-tech industries.
US President Donald Trump, whose administration has sought to rejuvenate domestic manufacturing, has expressed interest in Russia’s “huge reserves” of rare-earths.
Putin has indicated a willingness to collaborate on such ventures with international partners, including the United States. Presidential aide Kirill Dmitriev later confirmed that discussions on joint Russia-US projects are in progress, describing them as a significant component of bilateral cooperation.
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