Moscow and Washington has begun discussions on various rare earth metals and projects in Russia, Kirill Dmitriev, head of the Russian Direct Investment Fund (RDIF), told the Izvestia newspaper.

“Rare earth metals are an important area for cooperation, and, of course, we have started discussions about various rare earth metals and projects in Russia,” he said.

According to Dmitriev, some companies have already shown interest in the projects.

Russian President Vladimir Putin at a meeting on the development of the rare earth metals industry in late February said that the development of this industry is necessary for successful competition in world markets and the development of the most important sectors of the country’s economy.

Later, in an interview with VGTRK TV presenter Pavel Zarubin, the head of state announced Russia’s readiness to offer the United States the opportunity to work together in the field of rare earth metals.

US President Donald Trump said in mid-March that Russia has valuable natural resources, including the world’s largest deposits of rare earth metals, which are of interest to Washington.