Astana (TDI): A US-linked critical minerals project in Kazakhstan is moving forward, marking a further step in growing cooperation with the United States on strategic mineral supply chains.
The venture involves a merger between Skyline Builders Group Holding Ltd. and Cove Kaz Capital Group LLC, which will form a new Nasdaq-listed company called Kaz Resources Inc., expected to trade under the ticker “KAZR,” pending approvals.
The combined company is focused on developing tungsten, rare earths, and other critical minerals. It is linked to major tungsten deposits in Kazakhstan’s Karaganda region, including the Northern Katpar and Upper Kairakty projects. These assets are held through Severniy Katpar LLP, in which Kazakhstan’s state mining company Tau-Ken Samruk retains a minority stake, according to The Times of Central Asia.
The project is part of broader efforts by Washington to secure alternative sources of critical minerals, especially tungsten, which is widely used in defense systems, aerospace, and advanced manufacturing. The US has classified tungsten as a strategic resource due to its importance and global supply concentration.
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The Export-Import Bank of the United States and the US International Development Finance Corporation have both issued preliminary letters of interest indicating potential financial support. However, these are not final approvals and remain subject to further review and conditions.
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Kazakhstan is increasingly positioning itself as a key global supplier of critical minerals. The country’s tungsten production has been rising, and it recently began exporting tungsten concentrates for the first time, with shipments largely going to China.
However, industry analysts note that much of Kazakhstan’s resource potential remains underdeveloped and will require significant investment before reaching large-scale production.
The project reflects both Kazakhstan’s ambition to expand its mining sector and diversify export markets, and the United States’ broader strategy to reduce reliance on dominant suppliers like China for critical raw materials.
