The Art of the StealA project of the Save America Movement
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★ Government Action

U.S. agencies pledge $1.6B to Kazakhstan mine of Trump-orbit firm

Presidential Self-DealingTrump Family Business Dealings

Filed November 2025$1,600,000,000

★ The Brief

What happened

In November 2025, two federal agencies, the Export-Import Bank and the Development Finance Corporation, issued letters of interest committing in principle to $1.6 billion in financing for a Kazakhstan tungsten mine controlled by U.S.-registered Cove Kaz Capital.

Who enabled it

Who benefits

Deal or steal?

Six months later Cove Kaz agreed to merge with Skyline Builders, a firm the Trump sons' American Ventures had backed and Dominari took public, giving Eric Trump and Don Jr. indirect exposure to the federally financed mine.

In November 2025, the U.S. Export-Import Bank and the U.S. International Development Finance Corporation — two federally funded agencies — issued letters of interest committing in principle to a combined $1.6 billion in project financing for a Kazakhstan tungsten mine controlled by Cove Kaz Capital, a U.S.-registered firm. Six months later, in May 2026, Cove Kaz agreed to merge with Hong Kong-based Skyline Builders, in which Dominari Holdings' American Ventures unit had invested in August 2025 and which Dominari had taken public in early 2025. The merger gave Eric Trump and Donald Trump Jr. — who anchor most American Ventures vehicles and collectively own about 12 percent of Dominari — indirect equity exposure to the federally backed tungsten project. The Financial Times noted there is no suggestion the Trump sons knew of the pending federal commitment when they invested in Skyline, or that they influenced the award. Skyline was separately named in a March 2026 letter from the House Select Committee on the Chinese Communist Party seeking information about Dominari's role in U.S. listings of Chinese companies implicated in suspected pump-and-dump schemes.

Actors

Who pushed it · 2

Who initiated, paid, or pushed the action.

  • U.S. Export-Import Bank
    U.S. Export-Import Bank

    Federally funded agency that issued a letter of interest committing in principle to a portion of the combined $1.6 billion in project financing for the Cove Kaz Capital tungsten mine.

  • U.S. International Development Finance Corporation
    U.S. International Development Finance Corporation

    Federally funded agency that issued a letter of interest committing in principle to a portion of the combined $1.6 billion in project financing for the Cove Kaz Capital tungsten mine.

Beneficiaries

Who gained · 5

Who stood to gain.

  • Donald Trump Jr.
    Donald Trump Jr.

    Indirect equity exposure to the federally backed tungsten project via his anchor position in American Ventures, which invested in Skyline Builders before its May 2026 merger with Cove Kaz Capital. The FT notes there is no suggestion he knew of the pending federal commitment or influenced it.

  • Eric Trump
    Eric Trump

    Indirect equity exposure to the federally backed tungsten project via his anchor position in American Ventures, which invested in Skyline Builders before its May 2026 merger with Cove Kaz Capital. The FT notes there is no suggestion he knew of the pending federal commitment or influenced it.

  • American Ventures

    Invested in Skyline Builders in August 2025; gains indirect exposure to the federally backed tungsten project via the May 2026 Skyline / Cove Kaz merger.

  • Cove Kaz Capital

    U.S.-registered firm that secured access to a Kazakhstan tungsten mine in November 2025 and was the direct recipient of the combined $1.6 billion in federal letters of interest. Agreed to merge with Skyline Builders in May 2026.

  • Skyline Builders

    Hong Kong-based construction group that Dominari took public in early 2025 and that American Ventures invested in in August 2025. In May 2026 it agreed to merge with Cove Kaz Capital, becoming the publicly listed vehicle through which the federally backed tungsten project would flow.

Sources

Further reading