ASTANA - A stake in Severny Katpar LLC, which is developing one of the world's largest tungsten deposits in the Karaganda region, was sold for $114.8 million to a company associated with the sons of US President Donald Trump. This was stated in the consolidated financial statements of the national company Tau-Ken Samruk, Vlast.kz reports.
According to the document, an agreement for the sale of a 70% stake in the project was signed on February 14, 2026, as part of the privatization. The buyer was COVE KAZ CAPITAL GROUP LLC, which previously owned part of the project's assets.
Severny Katpar LLC is engaged in the exploration and production of tungsten-molybdenum ores at the Severny Katpar and Verkhneye Kayraktinskoye deposits, whose combined reserves are estimated at approximately 410,000 tons of tungsten trioxide.
A field development agreement between COVE KAZ CAPITAL GROUP LLC and Tau-Ken Samruk was previously signed. The American investor received a 70% stake in the project and assumed obligations to finance development, implement processing technologies, and ensure product supply to foreign markets.
Companies from China and Russia had previously expressed interest in the project, but it was the American side that ultimately secured a controlling stake in the joint venture.
CentralasianLIGHT.org
June 12, 2026