Putin orders roadmap for Russian rare earths extraction by December

As the world’s interest in the metals rises as a result of their use in modern technologies and a desire to reduce reliance on the Chinese-dominated market, Russian President Vladimir Putin has instructed his cabinet to create a roadmap for the extraction of rare earth minerals by December 1.

Putin also mandated that the cabinet implement measures to improve transport links between Russia and China and North Korea in a list of ministerial tasks released on the Kremlin website on Tuesday.

Rare earths, which are found in smartphones, electric vehicles, and weapons systems, are of crucial strategic importance in international trade.

A deal signed by US President Donald Trump and Ukrainian President Volodymyr Zelenskyy in April will give the US access to fresh Ukrainian mineral deals and support US investments in Ukrainian reconstruction.

Russia claims to be interested in working with the US on rare earth projects.

Kirill Dmitriev, Putin’s investment envoy, claimed in March that some US companies had expressed interest in Russian projects involving rare-earth metals. However, the US and Russia’s chances of resolving their conflict in Ukraine have been stifled due to progress.

This year, China, the main producer of rare earths, retaliated against US tariffs by enforcing export restrictions on rare earths. Washington’s attention has been focused on developing its own supplies as a result of its almost total global control.

Putin’s order, which summarized the key takeaways from a Far Eastern Economic Forum he attended in Vladivostok in September, did not go into great detail about Russia’s rare earths plan.

Russia’s reserves of rare earth metals are estimated by the US Geological Survey at 3.8 million tonnes, but Moscow’s estimates are much higher.

As of January 2023, Russia had reserves of 28.7 million tonnes of rare earth metals, according to the Ministry of Natural Resources.

Russia still accounts for only a small portion of the world’s stocks, despite this potential margin of error.

Putin also gave the government the directive to establish “multimodal transportation and logistics centers” along China’s and North Korea’s borders, among other things.

Putin said the locations should include a planned new bridge to North Korea and two already-existing railway bridges, which he said will be in place by 2026.