Developing the industry is crucial to Russias global competitiveness and sustainable growth, according to the president

Russian President Vladimir Putin has instructed the government to develop a long-term strategy for mining and producing rare-earth minerals, according to a directive published on the Kremlin's website on Tuesday.

Under the order, the cabinet must by December approve a detailed "roadmap" for the sector, which is critical for most modern technology, ranging from cellphones to weapons systems.

Putin has described the industry as a strategic resource vital to strengthening Russia's global competitiveness and supporting sustainable economic growth. Speaking at the Eastern Economic Forum (EEF) last month, he emphasized the need to boost domestic demand and introduce advanced processing technologies.

Russia holds an estimated 658 million tons of rare metals, including 28.5 million tons of 15 rare-earth types, according to the Natural Resources Ministry, which says the reserves are sufficient to meet the country's current economic needs and ensure long-term supply.

Global interest in rare-earth minerals has been rising in light of growing trade tensions between Washington and Beijing. China, the world's largest producer of rare-earths, has restricted exports in response to US tariffs, sparking supply disruptions for the automotive and other high-tech industries.

US President Donald Trump, whose administration has pushed to revive domestic manufacturing, has voiced interest in Russia's "huge reserves" of rare-earths. Putin, for his part, has signaled a readiness to cooperate on such projects with foreign partners, including the US. Presidential aide Kirill Dmitriev later confirmed that talks on joint Russia-US projects were underway, calling them an important part of bilateral cooperation.

The White House has been seeking reliable sources of the vital minerals. In May, after months of contentious negotiations, Washington and Kiev signed a deal on the joint extraction of Ukrainian natural resources. Trump promoted the agreement as a way to recover the roughly $350 billion he claims the US has spent supporting Kiev. The accord grants Washington preferential access to the resources, while the security guarantees long sought by Vladimir Zelensky's government were not included. However, much of what the West considers Ukraine's mineral wealth lies in the Donetsk and Lugansk People's Republics, which voted to join Russia in 2022.

(RT.com)