Trump-Linked Company Seeks to Extend Tungsten License in Kazakhstan

Cove KAZ Capital Group is seeking to extend the subsoil use license for the Severny Katpar deposit in the Karaganda region. The site contains tungsten, copper, bismuth, and molybdenum. The Ownership Structure The project is a joint venture: Cove KAZ Capital Group (part of US-based Cove Capital) holds a 70% stake, while the national company Tau-Ken Samruk retains 30%. Tau-Ken Samruk previously owned 100% of the asset. License Status and Timeline The current license expires on November 2, 2027. Alibek Kazbekuly, Country Director of Cove KAZ Capital Group, stated that the company is currently completing environmental approvals and expects to submit the renewal application to the ministry this year. The process was originally initiated by Tau-Ken Samruk in August 2025.