ISTANBUL

Russia said that it began negotiations with the US on the subject of rare earth metals projects, as Moscow and Washington engage in diplomatic talks to lay the groundwork for peace talks on Ukraine and improve bilateral relations.

“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,” Kirill Dmitriev, Moscow’s special envoy for foreign investment and economic cooperation, told the daily Izvestia newspaper in remarks published on Monday.

According to Dmitriev, some companies have already shown interest in the projects but gave no further details.

In an interview with state media in late February, Russian President Vladimir Putin said that Moscow would be ready to cooperate jointly with the US government and American companies on rare earth projects in the country.

He also conveyed Moscow's openness to joint work with the US on rare earth metals in Russia's "new territories," referring to those situated in Ukrainian territories under Russian control.

US authorities have yet to confirm Dmitriev's remarks.