US EditionTrump Sons-Backed Investment Vehicle Tied To Government's Kazakhstan Tungsten Mining Project: Report
The project has drawn up to $1.6 billion in U.S. government-backed financing and direct support from senior Trump administration officials.
- Reports indicate President Donald Trump's sons invested in a mining venture developing a $1.6 billion tungsten project in Kazakhstan, which secured US government-backed financing with direct support from President Trump, Secretary of State Marco Rubio, and Commerce Secretary Howard Lutnick.
- Tungsten is critical for defense applications including hypersonic weapons and F-35 engines. China controls over 80% of global tungsten production; Beijing's 2025 export restrictions drove prices up by more than 40%, prompting US interest in securing independent supplies.
- Donald Trump Jr and Eric Trump invested in Skyline Builders Group Holding last August, which later acquired a 20% stake in Kaz Resources. The subsidiary controls 70% of the Northern Katpar and Upper Kairakty tungsten deposits in Central Kazakhstan.
- This deal fits a broader pattern of Trump family interests intersecting with US government contracts. In March 2026, the sons invested in drone manufacturer Powerus pursuing a $1.1bn contract while Democrats in Congress unsuccessfully attempted to subpoena Donald Trump Jr.
- Cove Capital chief executive Pini Althaus told the Financial Times the project received "direct support from President Trump, Secretary of State Marco Rubio, and Commerce Secretary Howard Lutnick." A spokesman for Donald Trump Jr stated he "does not interface with the federal government on behalf of any company.
13 Articles
13 Articles
Trump sons hold stake in Kazakh Tungsten venture backed by $1.6bn in US government funds
Donald Trump's two sons have taken a financial stake in a mining venture that last year secured up to $1.6bn in US government-backed financing to develop what is described as the world's largest undeveloped tungsten deposit in Kazakhstan.
Financial Times: Trump Sons Take Stake In Kazakh Mining Outfit That Has $1.6 Billion Federal Contract
IntelliNews reports: A shell company backed by Donald Trump Jr and Eric Trump has reportedly merged with a critical minerals group that last year was lined up for $1.6 billion in US government support to mine critical mineral tungsten in Kazakhstan. Reporting on the deal, the Financial Times on April 30 said that it will add to the Trump family’s sprawling business empire. Word of the US leader’s sons’ stake in the mining venture in the Central …
Trump Sons-Backed Investment Vehicle Tied To Government's Kazakhstan Tungsten Mining Project: Report
A company backed by President Donald Trump's sons reportedly invested in a mining group that is developing a $1.6 billion tungsten project in Kazakhstan, awarded by the Trump administration. According to a Financial Times report, Donald Trump Jr. and Eric Trump have been using a shell company to buy stakes in U.S. construction group Skyline Builders (NASDAQ:SKBL), which on Thursday merged with Cove Kaz Capital Group, the unit of New York-based m…
Trump Sons Take Stake in Firm That Won U.S. Backing
"A shell company backed by Donald Trump Jr and Eric Trump has agreed to merge with a critical minerals group that last year secured up to $1.6 billion in US government support to mine tungsten in Kazakhstan," the Financial Times reports."The deal would expand the Trump family’s sprawling busin
The Financial Times (FT) reported on the 30th of last month that U.S. President Donald Trump's two sons, Donald Trump Jr. (49) and Eric Trump (42), have stepped forward as investors in a U.S. government-supported project to develop key minerals in Kazakhstan. There are also predictions that controversy over the appropriateness of these investments will arise as the Trump children continue to invest in sectors related to the government's key poli…
Trump sons’ crypto-linked bets run into mining security and financing conflict overseas – #CryptoUpdatesGNIT
Make CryptoSlate preferred on New Financial Times reporting says Donald Trump Jr. and Eric Trump are set to gain exposure to a Kazakhstan tungsten venture through Skyline Builders, a Nasdaq-listed company that has signed a transaction agreement with Cove Kaz Capital Group to create Kaz Resources Inc. if completed. Skyline and Cove, Kaz said, is expected to trade under the ticker KAZR if the deal closes. The target projects sit within a US critic…
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