Trump Brothers Stand to Gain From $1.6 Billion Kazakhstan Tungsten Deal as Critics Cite Optics
Updated
Updated · Fox News · Jul 29
Trump Brothers Stand to Gain From $1.6 Billion Kazakhstan Tungsten Deal as Critics Cite Optics
2 articles · Updated · Fox News · Jul 29
Summary
Skyline Builders’ reverse merger with Cove Kaz Capital created Nasdaq-listed Kaz Resources, leaving Donald Trump Jr. and Eric Trump positioned to benefit from a Kazakhstan tungsten project backed by up to $1.6 billion in U.S. financing.
The brothers bought a minority stake in Skyline Builders in August 2025 through a Dominari Securities vehicle; Skyline later kept a 20% stake in Kaz Resources after a $20 million investment.
Kazakhstan awarded the mining contract to the United States in November 2025, with Cove Kaz chosen to lead most of the mining at deposits where Cove had negotiated for a 70% share.
Securities lawyer Andrew Stoltmann said the arrangement raises suspicions but likely leaves critics with a "proof problem," because the brothers were private passive investors with no clear disclosure duty.
The White House denied any conflict, Cantor Fitzgerald said its role was limited to capital-raising support, and Stoltmann said a Democratic takeover of Congress could still trigger subpoenas over the deal.