Trump sons to take stake in Kazakh miner that won $1.6bn US backing

Source: Financial Times

Trump sons to take stake in Kazakh miner that won $1.6bn US backing

Donald Jr and Eric have sought to capitalise on sectors supported by father's presidential administration


There is no suggestion that Donald Trump Jr and Eric Trump knew that Cove was on the cusp of securing a contract from their father's US administration when they made their initial investments in Skyline through Dominari subsidiary American Ventures AP

George Steer in New York and Camilla Hodgson in London
Published 5 HOURS AGO

A shell company backed by Donald Trump Jr and Eric Trump has agreed to merge with a critical minerals group that last year secured up to $1.6bn in US government support to mine tungsten in Kazakhstan. ... The deal would expand the Trump family's sprawling business empire, granting the US president's sons a stake in a company that insiders hope will help sever America's reliance on China for metals used in munitions and other defence products.

The brothers bought into construction group Skyline Builders in August, taking stakes through a special purpose vehicle run by a subsidiary of Dominari Securities, according to three people familiar with the deal. The size of their investment was not disclosed.

Separately, on September 22,Kazakhstan's PresidentKassym-Jomart Tokayevtold Donald Trump that he planned to award a major tungsten project to US investment group Cove Kaz Capital, according to a person familiar with the discussion. Cove Kaz, backed by the US government, was competing against Chinese and Russian companies. ... Details of the informal agreement between Trump and Tokayevsurfaced in press reports on October 21.

The two Trump sons added to their Skyline position on October 28, contributing to a private placement that raised almost $24mn, the people said. ... On October 31, filings show Skyline agreed to pay $20mn for a 20 per cent stake in a company with "significant critical minerals assets in Asia".

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Read more: https://www.ft.com/content/d99f6f75-931a-42e5-9111-0dc0acc4368c

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Man, are those Trump boys smart.

Reposted by Popehat Aced It All Three Times
https://bsky.app/profile/kenwhite.bsky.social

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Ron Filipkowski
‪@ronfilipkowski.bsky.social‬

Suddenly Tweedle Dee and Tweedle Dumber just can't stop making big bucks off shrewd investments in companies making a fortune off connections to the government. They are experts in every industry now.


7:13 PM · Apr 30, 2026
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Suddenly Tweedle Dee and Tweedle Dumber just can’t stop making big bucks off shrewd investments in companies making a fortune off connections to the government. They are experts in every industry now.

— Ron Filipkowski (@ronfilipkowski.bsky.social) 2026-04-30T23:13:52.934Z