ASTANA, Kazakhstan, March 12. Kazakhstan and
U.S.-based Cove Kaz Capital Group LLC discussed prospects for
cooperation and the implementation of joint investment projects in
the mining sector,
Trend reports via the Kazakh Ministry of Industry and
Construction.
The discussion took place during a meeting between Kazakhstan’s
Minister of Industry and Construction, Yersayin Nagaspayev, and the
CEO of Cove Kaz Capital Group LLC, Dominic Heaton. Chairman of the
Management Board of Tau-Ken Samruk National Mining Company of
Kazakhstan, Nariman Absametov, also took part in the talks.
The sides reviewed the current state and prospects of bilateral
cooperation in the mining industry. The participants highlighted
the strategic importance of the partnership between Kazakhstan and
the U.S. and the contribution of American companies to the
development of Kazakhstan’s economy.
Particular attention was paid to the implementation of joint
investment initiatives and opportunities to expand cooperation in
the sector.
In November 2025, Tau-Ken Samruk and Cove Capital signed an
agreement to jointly develop the Severniy Katpar and Verkhneye
Kairakty deposits in Kazakhstan’s Karaganda Region, considered
among the world’s largest.
Under the agreement, the investor plans to invest $1.1 billion
in the construction of two processing plants and a metallurgical
facility, with around 1,000 jobs expected to be created once the
project reaches full capacity, prioritizing local employment. The
agreement also considers processing raw materials domestically,
prohibiting the export of raw ore and semi-finished products.
