Russian President Vladimir Putin has ordered his government to draw up a plan for the extraction and production of rare earth metals by December, as the country seeks to reduce its dependence on China's vast reserves and tap into growing global demand.
Russia boasts significant reserves of 15 rare-earth metals, totaling 28.7 million tonnes, according to the Natural Resources Ministry. However, this still accounts for only a fraction of the world's total stockpiles.
The move comes amid increasing interest in rare earths - essential components used in cutting-edge technologies such as smartphones, electric vehicles, and military systems. The US has also taken steps to secure its own supplies, signing deals with Ukraine to gain preferential access to new mineral deals and funding investment in the country's reconstruction.
Russia sees partnering with the US on rare-earth projects as a key area for cooperation. However, prospects have been hampered by ongoing tensions over Russia's war in Ukraine.
China, which dominates the global rare earths market, has hit back at US tariffs by imposing restrictions on exports. With the world shifting its focus to developing alternative supplies, Putin's plan is seen as an effort to bolster Russia's influence and reduce its reliance on foreign suppliers.
As part of his roadmap, Putin instructed government ministers to develop multimodal transport links with China and North Korea - including two existing railway bridges and a planned new bridge to North Korea. The new bridge must be completed by 2026, according to the plan.
The decision is seen as a strategic effort by Russia to strengthen its economic ties with neighboring countries and secure access to critical resources in an increasingly competitive global market.
Russia boasts significant reserves of 15 rare-earth metals, totaling 28.7 million tonnes, according to the Natural Resources Ministry. However, this still accounts for only a fraction of the world's total stockpiles.
The move comes amid increasing interest in rare earths - essential components used in cutting-edge technologies such as smartphones, electric vehicles, and military systems. The US has also taken steps to secure its own supplies, signing deals with Ukraine to gain preferential access to new mineral deals and funding investment in the country's reconstruction.
Russia sees partnering with the US on rare-earth projects as a key area for cooperation. However, prospects have been hampered by ongoing tensions over Russia's war in Ukraine.
China, which dominates the global rare earths market, has hit back at US tariffs by imposing restrictions on exports. With the world shifting its focus to developing alternative supplies, Putin's plan is seen as an effort to bolster Russia's influence and reduce its reliance on foreign suppliers.
As part of his roadmap, Putin instructed government ministers to develop multimodal transport links with China and North Korea - including two existing railway bridges and a planned new bridge to North Korea. The new bridge must be completed by 2026, according to the plan.
The decision is seen as a strategic effort by Russia to strengthen its economic ties with neighboring countries and secure access to critical resources in an increasingly competitive global market.