Russia's Rare Earth Metals: A Strategic Partnership Opportunity

Russia offers the U.S. a chance to explore its vast rare earth metal deposits, surpassing Ukraine's. Putin's proposal comes amid global interest in rare earth resources, critical for technology and defense. Russia plans to expand its rare earth sector with state corporation Rosatom spearheading production efforts, facing challenges from China.

In a strategic move, President Vladimir Putin proposed a future economic deal with the U.S. to explore Russia's extensive rare earth metal deposits, touted as larger than Ukraine's.

This proposition arose as the U.S. negotiates a minerals deal with Ukraine, highlighting the global race to secure rare earth resources, crucial for technology and defense industries.

Russia has significant ambitions to increase its production capacity of rare earth metals, aiming for a top-five global position by 2030, despite challenges from low demand and stiff competition from China.

(With inputs from agencies.)