Kazakhstan launches $1.1bn North Katpar tungsten project with Cove Capital

August 31, 2026 at 10:42 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

Kazakhstan has officially launched the North Katpar tungsten project in Karaganda Region, with total investment estimated at $1.1 billion. The project is expected to create 1,200 jobs and produce about 12,000 tonnes of tungsten products annually, representing roughly 15% of current global tungsten output. Construction is scheduled to begin in 2028, with commissioning in 2029.

Key Facts

Total investment in the North Katpar and Verkhnee Kairakty deposits is estimated at $1.1 billion.
The two deposits are expected to produce about 12,000 tonnes of tungsten products per year, about 15% of current global tungsten output.
The project will create 1,200 new jobs after commissioning, according to Deputy Akim of Karaganda Region Shyngys Suyunbayev.
Main construction is scheduled to begin in 2028, with commissioning in 2029.
In November 2025, Cove Capital and Tau-Ken Samruk announced a joint venture with $1.1 billion investment to develop North Katpar and Verkhnee Kairakty.

Project Launch

Karaganda Region authorities officially launched the North Katpar tungsten project, one of the world's largest undeveloped tungsten deposits. Preparatory work has been underway for two months, including site development, access roads, field infrastructure, and geodetic surveys. The final feasibility study is being developed and is planned for completion by the end of 2027. Deputy Akim Shyngys Suyunbayev said the project will provide a serious economic boost to Shet District and create 1,200 jobs.

Investment and Ownership

Cove Kaz Capital Group CEO Dominic Heaton said the company aims to create a modern, competitive tungsten mining and processing industry in Kazakhstan. Tau-Ken Samruk Chief Investment Officer Daniyar Idrisov said partners intend to build a full production cycle from ore mining to metallurgical processing and high-value tungsten products. In November 2025, American Cove Capital and Tau-Ken Samruk announced a joint venture with $1.1 billion investment to develop North Katpar and Verkhnee Kairakty. The joint development agreement was signed on the sidelines of the C5+1 summit in Washington.