U.S. investor to inject $1.1B into Karaganda region mining projects

Nariman Absametov, Chairman of the Management at Tau-Ken Samruk, also participated in the talks.

At the meeting, the parties discussed the current status and prospects of bilateral cooperation in the mining sector. They highlighted the strategic importance of the partnership between Kazakhstan and the United States, as well as the contribution of American companies to the national economy. Particular attention was paid to joint investment projects.

Following the discussions, the minister expressed interest in further developing win-win cooperation and launching new initiatives.

This follows an agreement signed in November 2025 between Tau-Ken Samruk and Cove Capital for the joint development of the Northern Katpar and Upper Kairakty deposits in the Karaganda region, which are among the world's largest.

Under the agreement, the investor will commit $1.1 billion to build two processing facilities and a metallurgical plant. Once the project reaches full capacity, it is expected to employ approximately 1,000 people, with a priority on hiring Kazakhstani personnel.

A key strategic condition of the deal is a strict ban on the exports of raw ore and semi-processed products. The entire production process will focus exclusively on downstream processing.

As Qazinform reported earlier, Tau-Ken Samruk, a portfolio company of the Samruk-Kazyna Fund, and Cove Kaz Capital Group LLC (Cove Capital) signed a package of transaction documents. The documents include a Sale and Purchase Agreement (SPA) and a Shareholders’ Agreement (FA) for a strategic investment project in the critical minerals sector.