The Russian Ambassador spoke about negotiations with Zambia regarding participation in the extraction and exploration of resources

Russian companies are in dialogue with their Zambian partners about participating in geological exploration and mining, Russian Ambassador to the country Azim Yarakhmedov told Izvestia.

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"Russian companies are in dialogue with their Zambian partners regarding their participation in the exploration and production of copper, cobalt, lithium and rare earths, primarily in the provinces of Copperbelt and Northern Zambia, where large deposits are concentrated," he said.

The diplomat stressed that Zambia is becoming an important destination for Russia, given that Moscow aims to occupy up to 12% of the global rare earth market by 2030 and reduce imports to 45%.

He added that the Russian Federation had invited Zambia to consider a format of joint ventures where Russia would provide access to technology, equipment and engineering expertise.

"We have strong competencies in the processing of non—ferrous and rare earth metals, including flotation equipment, integrated enrichment schemes, and environmentally friendly processing methods," the diplomat stressed.

According to him, Zambia is striving to move away from simple mining towards creating added value, and here the interests of Moscow and Lusaka coincide.