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NYT: Trump cut billion-dollar Kazakhstan mining deal

newsJun 28, 202623966

The New York Times reports that President Trump pushed a Kazakhstan tungsten-mining agreement that the investigation says could financially benefit his sons. The reporting says U.S. financing tied to the project totals about $1.6 billion, while the story describes the overall deal as a billion-dollar transaction. Within weeks of negotiations at the St. Regis, investors from Dominari Securities, a firm housed at Trump Tower and partly owned by Donald Trump Jr. and Eric Trump, joined partners to take a 20 percent stake in the Kazakhstan project. The story ties those Dominari investors to the commerce secretary, Gary Lutnick, and members of his family, who also have business connections to the venture. The Times notes the mine is untapped and that any significant tungsten production is not likely before 2030. The reporting says the arrangement gives those U.S. investors access to one of the world’s largest untapped tungsten reserves and involves substantial federal financial support for Kaz Resources.

emptywheel
@emptywheel.bsky.social

This story on the Trump and Lutnick corrupt interest in a Tungsten deal is breathtaking on its face. But as you read it, remember urgency behind the deal was Trump's illegal tariffs. Then note that deal won't actually PRODUCE any tungsten, if it does, until 2030. www.nytimes.com/2026/06/28/w...

8843h ago
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