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Donald Trump Jr. and Eric Trump, sons of former US President Donald Trump, are reportedly involved in a tungsten mining project in Kazakhstan. The venture is highlighted by the Financial Times, citing sources familiar with the matter, as part of a broader strategy to secure critical mineral supplies for the United States.

Strategic Investment in Critical Minerals

According to the report, a company linked to the Trump brothers has agreed to merge with a holding company that secured $1.6 billion in US government support in 2025 for producing critical minerals. This move is seen as a significant step towards diversifying the US's supply chain, particularly for materials where China currently holds a dominant position.

Complex Deal Structure

The involvement of the Trump sons was facilitated through a series of transactions. Their connection appears to be through Dominari Securities LLC, an investment advisory firm. This firm was reportedly involved when Skyline Builders, a construction company, acquired a stake. Subsequently, Skyline decided to purchase a 20% share in a company with substantial mineral assets in Asia for $20 million. This entity turned out to be a subsidiary of the American investment group Cove Capital.

Partnership for Resource Development

Cove Capital and Kazakhstan's National Mining Company have entered into an agreement to develop a large, underexplored tungsten deposit. The merger with Skyline is part of this broader plan. The Financial Times reports that these combined efforts are leading to the formation of a new company, preparing for a listing on the Nasdaq exchange under the name Kaz Resources.

Kaz Resources' Strategic Goals

A press release from Kaz Resources on April 30th confirmed the merger agreement between Skyline Builders Group Holding Ltd and Cove Kaz Capital Group LLC. The unified company aims to become a key supplier of tungsten, rare earth elements, and other critical minerals to the United States. The statement emphasized that this merger aligns with Skyline's strategic objective to become a primary supplier of essential minerals to the US.

Diversified Mineral Supply

Beyond tungsten, the company has indicated its readiness to supply rare earth elements such as lithium, beryllium, tantalum, niobium, and rubidium. The business consolidation also includes another American firm, KAZ Critical Minerals, which holds 15 licenses in Kazakhstan.

Focus on Key Deposits

The core of this deal involves the acquisition of a 70% stake in 'Solyugti Kz' LLP, which holds licenses for the 'North Katpar' and 'Upper Kayrakty' deposits in the Karaganda region. These licenses were previously held by the national mining company 'Tau-Ken Samruk'. While 'North Katpar' is described as having moderate reserves, 'Upper Kayrakty' is recognized as one of the world's largest tungsten deposits, estimated to contain over 1 million tons.

Kazakhstan Retains Strategic Control

In a statement released on April 21st, 'Tau-Ken Samruk' clarified that the agreement does not involve the sale of the tungsten deposits themselves. Instead, Cove Capital will acquire a 70% share in the joint venture's charter capital. The collaboration is designed to attract strategic capital and advanced technologies for the development of these deposits, with the American investor assuming over $1 billion in funding and associated technical and operational risks. Kazakhstan will maintain strategic control over the deposits and the project's implementation.

Economic Benefits for Kazakhstan

The project is intended to focus on producing finished goods within Kazakhstan, thereby creating added value, generating new employment opportunities, and boosting tax revenues. The involvement of an international partner is also expected to secure a stable market for tungsten products, which are not currently in high demand domestically.

US Interest in Rare Earth Elements

Rare earth elements are often referred to as "new oil" due to their critical role in modern technology. Their applications in electronics and defense industries make them a priority for countries with significant manufacturing capabilities. China currently dominates the global production and processing of these elements. Experts note that China has previously used its control over rare earth metals as leverage in trade disputes, prompting the US to seek alternative supply routes. In February, President Trump announced a plan to establish a strategic reserve of critical minerals worth $12 billion to reduce dependence on Chinese raw materials.