Kazakhstan bans US company from exporting tungsten and by-products

Kazakhstan has banned the US company Cove Kaz Capital Group from exporting tungsten and its by-products under the agreement signed in November 2025.

Minister of Industry and Construction Ersaiyn Naghaspaev discussed the issue and prospects for cooperation in the mining sector with Cove Kaz Capital Group LLC CEO Dominic Heaton, Caliber.Az reports, citing Kazakh media.

They highlighted the strategic importance of the partnership between Kazakhstan and the United States, as well as the contribution of American companies to the national economy. Particular attention was paid to joint investment projects.

Following the discussions, the minister expressed interest in further developing win-win cooperation and launching new initiatives.

This follows an agreement signed in November 2025 between Tau-Ken Samruk and Cove Capital for the joint development of the Northern Katpar and Upper Kairakty deposits in the Karaganda region, which are among the world's largest.

Under the agreement, the investor will commit $1.1 billion to build two processing facilities and a metallurgical plant. Once the project reaches full capacity, it is expected to employ approximately 1,000 people, with a priority on hiring Kazakhstani personnel.

A key strategic condition of the deal is a strict ban on the exports of raw ore and semi-processed products.

The Ministry of Industry said production will be focused exclusively on deep processing.

By Bakhtiyar Abbasov