The project centers on a massive, previously untapped tungsten reserve in Kazakhstan. According to a New York Times investigation, Commerce Secretary Howard Lutnick helped secure the agreement, which grants access to the metal—a key component for missile warheads and high-end computer chips. Shortly before the deal finalized last September, the administration moved to approve massive federal financial support for Kaz Resources, the entity overseeing the site.
Financial disclosures indicate that Dominari Securities, a firm headquartered in Trump Tower and partially owned by Eric Trump and Donald Trump Jr., acquired a 20% stake in the venture. Simultaneously, the sons of Secretary Lutnick, Brandon and Kyle, reportedly facilitated $210 million in capital for related entities, potentially enriching the family-linked investment firm Cantor Fitzgerald.
Sen. Jon Ossoff (D-Ga.) criticized the move as a blatant misuse of public funds, noting that while the government claims it lacks the budget to maintain health coverage for hundreds of thousands of Americans, it has committed over a billion dollars to a project controlled by the president’s kin. Rep. Don Beyer (D-Va.) echoed these concerns, arguing that the Kazakhstan deal is part of a broader pattern. Investigations have identified at least 14 companies currently engaged in mining contracts with the federal government that share direct ties to either the Trump family or Cantor Fitzgerald.
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