The Trump administration has helped a US private company strike a deal to purchase a majority stake in Kazakhstan’s largest undeveloped supply of tungsten, as the US races against China to secure greater access to critical minerals deemed crucial to national security.
US-based Cove Capital LLC has taken a 70% ownership stake in two deposits from Kazakhstan’s sovereign wealth fund, which will retain 30% ownership, according to a statement seen by Bloomberg.
The statement wasn’t clear on the purchase price, but total project costs to develop the deposits are roughly $1.1 billion, Cove Capital said. The US Export-Import bank issued ...
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