Kazakhstan has banned the American company Cove Capital from exporting tungsten mined at the North Katpar and Upper Kairakti deposits. This was reported by the Ministry of Industry and Construction of the republic.
„The Minister of Industry and Construction of the Republic of Kazakhstan, Ersayan Nagaspayev, held a meeting with Dominic Heaton, CEO of Cove Kaz Capital Group LLC. We recall that in November 2025, Tau-Ken Samruk Oil and Gas Company JSC and Cove Capital signed an agreement on the joint development of North Katpar and Upper Kairakti, two of the largest tungsten deposits in the world in the Karaganda region. Under the terms of the agreement, the investor undertakes to invest $ 1.1 billion in the construction of two processing plants and a metallurgical plant. A strategic condition was specifically indicated – a ban on the export of raw materials and semi-finished products“, the statement said.
The ministry also noted that the parties paid special attention to the implementation of joint investment projects, and after the meeting the Kazakh minister expressed his country's interest in further strengthening mutually beneficial cooperation and implementing new joint initiatives.