In a FOX BUSINESS exclusive, Cove Capital Executive Chairman Pini Althaus discusses the company’s major push to secure non-Chinese critical mineral supplies through a massive joint venture in Kazakhstan. Highlighting that the U.S. has lacked domestic tungsten production since 2015 and remains heavily reliant on Chinese supply chains for defense munitions, Althaus outlines the development of what is described as the world’s largest tungsten project in Kazakhstan. Backed by $1.1 billion in planned capital investments and significant institutional support (including letters of intent from Ex-Im Bank and the DFC), the project holds an estimated 20% of global tungsten reserves, positioning it as a generational asset capable of supplying U.S. and allied industrial and defense needs for decades. References to Antimony and Silver as well.
2. Unlocking Kazakhstan: The New Frontier of Mining Investment
Based on exclusive insights from a high-level Eurasia Critical Minerals Organization (ECMO) meeting in London, this panel discussion explores the complex mechanics behind Kazakhstan’s mining boom. While the country possesses world-class mineral deposits, its global investment rankings have historically been impacted by administrative friction. However, major reforms—including a transparent Australian-style first-come-first-serve licensing system, digital e-signatures, a 15-day automated auction process for contested land, and lucrative 10-year tax exemptions for solid mineral processing—are actively transforming the investment climate.
The discussion also highlights how artificial intelligence is unlocking decades of legacy Soviet geological archives, how operators like Solid Core are successfully managing complex refractory ores, and how regional logistics shifts (like the Middle Corridor) and capital flows from China, Turkey, and the Gulf States are reshaping the global critical minerals supply chain.
3. Kazakhstan and Saudi Arabia Eye Joint Mining Projects | Interview of the Day
In an interview focusing on bilateral economic cooperation, Saudi Arabia’s Minister of Industry and Mineral Resources, Bandar bin Ibrahim Al-Khorayef, outlines joint strategies between Kazakhstan and Saudi Arabia to develop critical mineral extraction and processing. Emphasizing Vision 2030, the partnership aims to leverage Kazakhstan’s extensive resource base and Saudi Arabia’s financial stability, dollar-hedged currency, and global diplomatic reach to orchestrate cross-border projects, secure long-term offtake, and bridge private-sector investments between Central Asia and international markets.