Trump Administration Secures $1.6 Billion Tungsten Deal Giving Family Ties Investment Stakes
The Trump administration secured an agreement that grants U.S.-backed Kaz Resources access to one of the world’s largest untapped tungsten deposits in Kazakhstan, with the deal potentially bringing up to $1.6 billion in financing, according to The New York Times. Tungsten is a critical mineral widely used in defense manufacturing, electronics, and high-strength alloys. The reported access aims to bolster supply chains outside of regions dominated by Chinese processing.
Investors tied to Donald Trump Jr., Eric Trump, and Commerce Secretary Howard Lutnick’s family acquired financial stakes in the Kaz Resources project shortly before the agreement was finalized, the newspaper reported. The transaction underscores how U.S. strategic sourcing initiatives for critical raw materials increasingly intersect with politically connected private investments.
From the sources (2 posts)
@clashreportThe Trump administration secured a deal giving U.S.-backed Kaz Resources access to one of the world's largest untapped tungsten deposits in Kazakhstan, with up to $1.6 billion in potential U.S. financing. Shortly before the agreement was
@niubiTrump Cut a Billion-Dollar Mining Deal. His Sons Stand to Profit. An agreement between the U.S. and Kazakhstan has given a group of American investors with ties to the president and the commerce secretary access to one of the world’s larges