Moscow could explore joint development of mineral deposits in the new Russian regions, the Russian president has said

Moscow is ready to work with Washington in developing rare-earth mineral deposits, including in the Donetsk and Lugansk People’s Republics, and Kherson and Zaporozhye regions, Russian President Vladimir Putin has said.

The rare earths deal US President Donald Trump’s administration is pushing for with Ukraine “doesn’t concern” Moscow, Putin said in an interview with Russia 1 TV journalist Pavel Zarubin on Monday.

The actual value of Ukraine’s rare-earth mineral deposits remains to be seen, the Russian leader noted.

Moscow will be concentrating on its own development of rare-earth minerals, given their importance in multiple sectors of the economy, he said.

“We would be ready to offer this to our American partners… if they showed interest in working together,” Putin said, stressing that he meant both private and government companies.

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As one of the global leaders in terms of its rare-earth mineral wealth, Russia is willing to work with international investors in developing its deposits, he said.

“This includes the new territories,” Putin added. “Our new historical territories, which were returned to the Russian Federation, also hold significant reserves.”

The Donetsk and Lugansk People’s Republics, and Kherson and Zaporozhye regions joined the Russian Federation following referendums in 2022.

While Forbes estimated the total value of mineral deposits of Ukraine at nearly $15 trillion in 2023, nearly half of the total mineral wealth lies in the Russia’s Donetsk and Lugansk People’s Republics.