It was announced recently that a new console version for Rust would be coming. An agreement has been reached with a company called Double Eleven for the console version of Rust, which is published and developed by Facepunch Studios . Problems in the console version development phase caused delays, and it was reported on the Double Eleven front that the Rust console version would come in 2021. Finally, the official date has been set, and the console version of Rust will be available for PS4 and Xbox One (it will run in backward compatible mode on PS5 and Xbox Series X/S) on May 21, unless something goes wrong .

We first started talking with Facepunch about the idea of building a Console version of Rust and how it would work in 2016. We knew beforehand that the two games would have to be in separate universes, given that the PC version could be expanded as needed. Double Eleven maintains performance as long as people keep upgrading their hardware, while consoles have limited resources that need to be managed more closely.
Due to the redesign of Rust to the console version, work continues on problems such as loading times, fps problems, minor bugs. Significant progress has been made and it is reported that the bugs will be fixed shortly. The community manager of the game gave information about the latest developments and shared some important details and said in a statement;
During the beta tests we conducted, we see that most players are satisfied with the situation. In addition, the performance and stability of the game almost reached the level we wanted. Our team is working in the background for better performance and stability.
The development of the console version of the game continues for about 3 years. In addition, new updates of the game will be brought to the console version and the game will continue to be updated on consoles. The updates will be arranged specifically for the console versions, so that they will not be exactly the same. As far as we know for now, the console version will only be set to appeal to the console community and the game will not have cross-play support.