Trump, minerals and family: Billion dollar deal in Kazakhstan revealed

2026-06-29 15:17:15Kosova&Bota SHKRUAR NGA REDAKSIA VOX

Trump, minerals and family: Billion dollar deal in Kazakhstan revealed

A New York Times investigation sheds light on a billion-dollar mining deal in Kazakhstan, which, according to the American newspaper, was negotiated with the support of President Donald Trump's administration, while at the same time creating profitable opportunities for businesses linked to his family.

At the center of the report is a project to develop one of the world's largest untapped reserves of tungsten, a strategic mineral for the production of missiles, fighter jets, electronic chips, and the defense industry.

According to the New York Times, during a meeting in September 2025 in New York, President Trump and US Secretary of Commerce Howard Lutnick secured the agreement of Kazakh President Kassym-Jomart Tokayev to give the American company Kaz Resources access to this strategic project.

In parallel, the US administration approved preliminary applications for federal funding of up to $1.6 billion for the development of the mine.

However, according to the investigation, just a few weeks after these negotiations, investors associated with Dominari Securities, a company in which Donald Trump Jr. and Eric Trump own shares, purchased 20 percent of an entity associated with the mining project.

At the same time, Cantor Fitzgerald, the financial group controlled by Howard Lutnick's family, helped provide $210 million in capital for one of the project's lead partners.

According to the American newspaper, these developments have raised concerns about the combination of state decision-making with the private interests of the Trump and Lutnick families.

The New York Times writes that the Kazakhstan agreement is not an isolated case.

According to the investigation, the Trump family and that of the Secretary of Commerce have financial ties to at least 14 companies that are developing strategic mining projects with support or funding from the US government.

The total value of financing approved or under consideration for these companies exceeds $8.9 billion.

Democrats in Congress have demanded an investigation into these relationships.

Congresswoman Maxine Dexter told the newspaper that Congress must ensure that public funds are used in the interest of citizens and not to favor family members or people close to the administration.

On the other hand, the White House and the US Department of Commerce have denied claims of conflict of interest.

In a response to the New York Times, White House spokesman Kush Desai stated that the Trump administration's decisions are guided solely by the strategic interests of the United States and the need to secure supply chains of critical minerals.

According to the investigation, the project in Kazakhstan is considered one of the most important US investments in the global race for strategic minerals, at a time when China has restricted exports of tungsten and other critical materials, significantly increasing the geopolitical importance of these resources.


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