Kazakhstan’s Tau-Ken Samruk, US Cove Capital Launch $1.1 Billion Tungsten Mining Joint Venture

Kazakhstan’s Tau-Ken Samruk and US-based Cove Capital have announced the launch of a $1.1 billion joint venture to develop some of the world’s largest untapped tungsten deposits.

According to Samruk-Kazyna, the parent company, the two sides have signed an agreement to jointly develop the Severny Katpar and Verkhnee Kairakty tungsten deposits, located in Kazakhstan’s Karaganda region, The Caspian Post reports via Kazakh media.

“Preparatory work has begun on the final feasibility study for the Severny Katpar project, including plans to establish primary processing facilities in Kazakhstan for the production of ammonium paratungstate (APT),” the company said in a statement.

The Severny Katpar and Verkhnee Kairakty deposits are among the largest tungsten reserves in the world, with total resources estimated at 410,000 tons.

The initiative marks a major milestone in Kazakhstan’s strategy to develop its critical minerals industry, strengthen mining and processing capabilities, and attract foreign investment into high-value resource projects.

By tapping into its vast tungsten potential, Kazakhstan aims to reinforce its position as a key global supplier of strategic raw materials essential for high-tech and industrial applications.