A U.S. mining company with ties to Trump’s sons merges with a shell entity to pursue tungsten extraction in Kazakhstan.
Cove Kaz Capital has finalized a deal with Kazakhstan’s state-owned mining company to mine tungsten, a critical mineral. The agreement follows a 2023 White House announcement and coincides with plans to merge with a shell company linked to Donald Trump’s sons.
The merged entity aims to go public, though details on valuation or timeline remain undisclosed. Tungsten is classified as a strategic resource, with demand driven by defense and industrial sectors. Kazakhstan holds some of the world’s largest reserves.
No immediate market reaction was reported, but the deal underscores growing U.S. efforts to secure critical mineral supply chains outside China.