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Trump sons' minority stake in Kazakhstan tungsten deal raises conflict questions as U.S. agencies back up to $1.6 billion

7/30/2026

government financing is backing a Kazakhstan tungsten mining deal that has drawn scrutiny because Donald Trump Jr. and Eric Trump hold a minority interest in a company positioned to benefit from it.

A Chicago securities attorney said critics face a "proof problem" establishing wrongdoing, given that the brothers invested as private citizens with no legal duty to disclose their holdings.

How the ownership chain formed Between 2023 and 2024, U.S.-based Cove Capital negotiated a 70% share in Kazakhstan's state-owned tungsten mining deposits through its affiliate, Cove Kaz Capital Group.

In August 2025, through an investment vehicle created by Dominari Securities, housed in Trump Tower in New York, the Trump brothers bought a minority interest in Skyline Builders, then publicly traded on the NASDAQ under the ticker SKBL.

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