Cove Capital, a mining investment firm, is set to develop a substantial tungsten deposit in Kazakhstan, in collaboration with state mining company JSC Tau-Ken Samruk. The agreement, announced by the Trump administration, marks a key step in tightening economic ties between the U.S. and Kazakhstan.

Under the deal, Cove Capital will hold a 70% stake in the joint venture, as well as control of metal sales, while Tau-Ken Samruk will manage the remaining 30%. Development costs for the Northern Katpar and Upper Kairakty projects in eastern Kazakhstan are projected at $1.1 billion, with the U.S. Export-Import Bank expressing interest in funding $900 million.

The project underscores the U.S.'s strategic move to strengthen its critical mineral supplies, as tungsten plays a vital role in hardening

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