UPDATE 1-Russia offers Germany help on rare earths supply

Mon Jul 18, 2011 3:33pm GMT

* German industry concerned about rare earths supplies

* Russia could be partner on non-energy commodities too

* Germany could offer technology transfer in return

(adds quotes, details)

WOLFSBURG, Germany, July 18 (Reuters) - Russia is offering Germany closer cooperation on rare earths as well as gas and oil supplies, a Russian official said on Monday ahead of an annual bilateral summit in Germany.

Berlin has been trying to improve German industry's access to the strategic metals, which are used to manufacture a range of high-tech products and whose supply has been hit by export curbs by dominant producer China, among other factors.

Energy has so far dominated German-Russian trade, but Russia also has considerable reserves of rare earths.

"There are very many rare earths deposits on the Kola peninsula," said Valeri Jasev, president of the Russian Gas Society and deputy head of Russia's parliament, adding that the two countries could increase cooperation in the area.   Continued...

  • Africa
  • US
  • Europe
  • Asia
UK £ USD =1.2617
Euro USD =1.1124
Rand USD =0.0764