Trump Sons Invest in $80 Billion Kazakhstan Tungsten Mine as US Backs Critical Minerals Push
Updated
Updated · The New York Times · Jul 9
Trump Sons Invest in $80 Billion Kazakhstan Tungsten Mine as US Backs Critical Minerals Push
3 articles · Updated · The New York Times · Jul 9
Summary
$80 billion in estimated tungsten reserves underpins a Kazakhstan mine that Donald Trump Jr. and Eric Trump bought into within weeks of a tentative US-backed deal for the site.
A September meeting in New York featured Commerce Secretary Howard Lutnick pitching the project, with Trump joining by phone, and included discussion of up to $1.6 billion in US support for the little-known mining company.
The investment was not public until mid-October 2025, and the partners have not explained how the Trump sons learned of the opportunity; they say the brothers are passive investors.
The mine could generate gains even before production because the company is public and mining analysts say much of the sector's profit comes from permits and rising share prices, not extraction.
The case fits a broader pattern: 14 mining companies tied to the Trump or Lutnick sons are positioned for as much as $8.9 billion in federal aid, raising conflict-of-interest scrutiny.
How are billions in taxpayer funds for critical minerals safeguarded from potential conflicts of interest?
With the first family invested in crypto, can new regulations create a truly fair market for all investors?
As presidential business and foreign policy merge, how are America's international partnerships and security affected?
U.S. Backs $1.1 Billion Kazakhstan Tungsten Mine: Trump Family Investment Raises Conflict Concerns
Overview
In November 2025, Donald Trump Jr. and Eric Trump, through Dominari Securities, acquired a 20% stake in Kaz Resources just as negotiations for a major tungsten mining project in Kazakhstan were underway. Days later, Kazakhstan and the United States signed a formal agreement on critical minerals, which included the tungsten deal. This timing drew immediate scrutiny, as the acquisition closely preceded a high-profile visit by Kazakhstan’s president to Washington, resulting in billions of dollars in deals. The overlap between the Trump family’s investment and the U.S. government’s strategic push to secure critical minerals has sparked concerns about potential conflicts of interest and ethical questions.