Does Russia have signficant reserves of rare earth metals? How could they not, with their massive geography?
The issue with Russian natural resources is that their infrastructure sucks. Sibera is a vast source of huge resources. But, getting stuff in and out of that region would take a Marshall Plan style upgrade of their roads and rails.
Russia has been so averse to letting anyone help them, they are stuck in 1988.
Ukraine is very rich in natural resources—impressively “loaded” in Titanium. Of which, Russian submarine skin and structure is made.