The Kremlin said on Tuesday that Russia had lots of rare earth metal deposits and that it was open to doing deals to develop them after President Vladimir Putin held out the possibility of such collaboration with the United States.

Russia's President Vladimir Putin offered the U.S. the opportunity for joint exploration of the country's rare earth metals deposits, as well as the supply of aluminum to the U.S. domestic market, outlining a future economic deal between the two countries.

Russian President Vladimir Putin said that Moscow and Washington could make a deal on mining rare earth minerals both in Russia and parts of Russian-occupied Ukraine.