American Cove Capital and Kazakhstan’s Tau-Ken Samruk are set to develop tungsten deposits in Kazakhstan. Investors from the U.S. plan to establish two processing plants and a metallurgical plant worth $1.1 billion.
Kazakhstan’s Minister of Industry and Construction Yersayin Nagaspayev held talks with Cove Kaz Capital Group LLC CEO Dominic Heaton. Tau-Ken Samruk CEO Nariman Absametov also took part in the meeting.
The discussion focused on the implementation of joint investment projects in the mining sector. Following the meeting, the minister confirmed Kazakhstan’s interest in expanding cooperation with American partners.
In November 2025, Tau-Ken Samruk and Cove Capital signed an agreement on the joint development of the North Katpar and Upper Kairakty deposits in the Karaganda region, among the world’s largest deposits with estimated reserves of 410,000 tons. It is noted that the American investor undertakes to invest $1.1 billion in the construction of two processing plants and a metallurgical plant.
The project is expected to create around 1,000 jobs, with priority in employment given to Kazakhstani specialists. The agreement includes a fundamental condition: the export of raw materials and semi-finished products is prohibited — all products must undergo deep processing within the country.
