The sons of US President Donald Trump, Eric Trump and Donald Trump Jr., have become co-owners of a company developing tungsten deposits in Kazakhstan, the Financial Times reported, citing sources.
According to three sources, the Trump brothers acquired a stake in the construction group Skyline Builders in August 2025. After a series of transactions, Skyline acquired a 20% stake in Kaz Resources, a company affiliated with the investment group Cove Capital. Kaz Resources and Cove Kaz Capital, which controls projects in Kazakhstan, subsequently merged with Skyline.
The new company plans to list its shares on Nasdaq under the Kaz Resources brand, the newspaper reports.
As the publication notes, last year the US Export-Import Bank and the Development Finance Corporation (DFC) approved financing of up to $1.6 billion to support tungsten mining projects in Kazakhstan. Cove Kaz Capital received a controlling stake (70%) in these projects.
A representative of Trump Jr. told the media that he is a passive investor and does not participate in operational activities or interact with federal authorities on behalf of the companies in which he invests.
In November 2025, the Central Asia-US summit (C5+1) was held, which was attended by the leaders of Kazakhstan, Uzbekistan, Turkmenistan, Tajikistan and Kyrgyzstan.
On November 7, the press service of Kazakh President Kassym-Jomart Tokayev reported that, after negotiations with the American side, Tokayev and Trump signed trade agreements between Kazakhstan and the United States worth over $17 billion.