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Trump-linked firm seeks $400M for tungsten mine

Financial Times Companies •
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Cove Kaz Capital, an entity linked to Donald Trump Jr. and Eric Trump, has requested an additional $400 million from the U.S. government for its tungsten mine project in Kazakhstan. The company has existing ties to Trump family members and is seeking further financial backing to develop strategic mineral resources in Central Asia.

The firm has already secured up to $1.6 billion in government support for the Kazakhstani project, demonstrating the substantial scale of investment involved. This new funding request would significantly increase the total U.S. commitment to the mining operation, which aims to extract tungsten—a critical metal used in military and industrial applications.

The request raises questions about the intersection of political connections and federal funding for resource projects. Trump family entities have sought government support before, though this particular request comes amid heightened scrutiny of foreign resource development and strategic mineral supply chains. The outcome could set precedents for similar funding requests.