Russia, Germany may team up to develop rare earth metals deposits

ST. PETERSBURG, Nov 29 (PRIME) -- Germany may develop rare earth metals deposits jointly with Russia in the country, Deputy Prime Minister Arkady Dvorkovich told reporters on Wednesday.

“The international energy markets are unstable today, we had a period of a significant fall of prices for almost all commodities, and this led to a decrease of investment in the energy sector all around the world,” he said.

“Very few goods avoided the fate and rare earth metals, where demand is maintained at high levels and prices are good, are one of them. This testifies to the shortage of such strategic raw materials. We are ready to provide the opportunity. We have such deposits, cooperation in the sphere could be very important.”

Dvorkovich also invited German companies to localize production of equipment for power generation from renewable sources.

“We think that this is a healthy process, we form a predictable environment for investment in this business, and we expect that these projects will be implemented by our partners from Germany among others. We invite them to participate in our projects, including localization of certain types of equipment for using renewable power sources on the territory of Russia and in other countries,” he said.

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