Trump sons, Forbes billionaires, Chinese state firms eye Kazakhstan tungsten

September 9, 2026 at 11:15 AM1 min

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Kazakhstan's tungsten deposits have drawn interest from Donald Trump's sons, Forbes Kazakhstan billionaires Patokh Shodiev, Eduard Ogai, Vladimir Dzhumanbaev, and the Asaubayev family, as well as Chinese state companies and Russia's Tatneft. The country holds 2.429 million tonnes of tungsten reserves across 21 deposits, with about 2.1 million tonnes concentrated in five sites. The interest follows China's February 2025 export controls that cut its tungsten shipments by roughly 40% year-on-year.

Key Facts

Kazakhstan's tungsten reserves total 2.429 million tonnes across 21 deposits, according to the Ministry of Industry.
About 2.1 million tonnes are concentrated in five deposits: Verkhnee Kairakty, Severny Katpar, Karaobinskoye, Koktenkol in Karaganda Region, and Bogutinskoye in Almaty Region.
China imposed export controls on tungsten products in February 2025, cutting its shipments by about 40% year-on-year.
Kazakhstan became the world's third-largest tungsten producer after China and Vietnam following the launch of the Bogutinskoye deposit.
Projects are underway at Bogutinskoye, Akmaya, Severny Katpar, Verkhnee Kairakty, and Aksoran.

Investor Interest

Donald Trump's sons are among the parties showing interest in Kazakhstan's tungsten deposits. Forbes Kazakhstan billionaires Patokh Shodiev, Eduard Ogai, Vladimir Dzhumanbaev, and the Asaubayev family are also named as potential investors. Chinese state-owned companies, Solidcore Resources structures, and Russia's Tatneft are listed among potential and current project participants. The interest follows a rise in global tungsten prices and China's export restrictions.

Deposit Development

Projects are currently underway at Bogutinskoye, Akmaya, Severny Katpar, Verkhnee Kairakty, and Aksoran. Severny Katpar and Verkhnee Kairakty are being developed by Tau-Ken Samruk together with American firm Cove Capital. China accounts for more than 80% of global tungsten mining, but its export controls have reduced supplies. Kazakhstan's tungsten output reached third place globally after the Bogutinskoye deposit came online.