U.S.-Kazakh Partnership - The Times Of Central Asia

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Tungsten

Developer of Kazakhstan Tungsten Projects Drops Merger and Plans U.S. Listing

Cove Kaz, the U.S. company developing two major tungsten deposits in Kazakhstan, has dropped its planned merger with Skyline Builders. It now plans to list its shares directly on a U.S. stock exchange in the first half of 2027. The change comes alongside a $32 million investment commitment intended to fund work on the projects. Together, the announcements reshape how Cove Kaz plans to finance development and bring its Kazakhstan business to public investors. The companies announced the mutual termination of their merger agreement on November 2. American Ventures has committed to buying four million Cove Kaz shares at $8 each, implying a company valuation of $1.97 billion. The investment still needs to close. “The additional capital will fund engineering and construction-related work to shorten our time to production,” said Cove Kaz Executive Chairman Pini Althaus. Under its new listing plan, Cove Kaz intends to become a Delaware corporation and adopt the name Kaz Resources Inc. It also plans to bring other affiliated Kazakhstan assets into the company, subject to regulatory approval. The company has not named an exchange and plans to file a registration statement with U.S. securities regulators. Skyline would remain an investor under the revised arrangements. In its own announcement, it said its existing investment and outstanding loan would be exchanged for shares in Cove Kaz. Its stake would be approximately 26% after the new funding closes. Skyline said the revised arrangement should allow its shareholders to realize the value of their investment faster than the merger. The underlying mining venture centers on Northern Katpar and Upper Kairakty in Kazakhstan’s Karaganda Region. Cove Kaz acquired 70% of Severniy Katpar LLP, which holds the project licenses, in April. Kazakhstan’s national mining company, Tau-Ken Samruk, retains the remaining 30%. [caption id="attachment_59844" align="aligncenter" width="1774"] The Northern Katpar tungsten project site in Kazakhstan’s Karaganda Region. Image: Cove Kaz Capital Group.[/caption] The original merger agreement was intended to create a listed supplier of tungsten and other critical minerals for U.S. customers. Tungsten is used in industrial tools, aerospace and defense equipment, making alternative supplies important to Washington’s efforts to reduce dependence on China. Chinese companies already have a foothold in Kazakhstan’s tungsten sector. A $300 million processing plant opened in Almaty Region in November 2024, with Jiangxi Copper among its participants. Cove Kaz’s planned mine and refinery would establish another supply route, focused on U.S. customers. Work at Northern Katpar has moved into engineering and feasibility studies. Cove Kaz’s August update said the definitive feasibility study began in July and was expected to finish before the end of 2027. It covers the mine and a planned refinery in Kazakhstan that would produce ammonium paratungstate, a material used in tungsten manufacturing. The study will help establish the costs and design needed for a final investment decision. It will also support assessments by potential lenders, including U.S. government agencies. Cove Kaz has cited earlier studies indicating potential combined annual production of about 12,000 metric tons from the two deposits, equivalent to roughly 15% of...

U.S.-Kazakhstan Relations

Bipartisan U.S. Congressional Visit Highlights Expanding Partnership with Kazakhstan

A bipartisan six-member delegation from the U.S. House of Representatives met with President Kassym-Jomart Tokayev in Astana on August 25, two days after Kazakhstan elected the first members of its new unicameral Kurultai. Tokayev called the timing symbolic and proposed closer dialogue between Congress and the new legislature. The delegation was led by House Ways and Means Committee Chairman Jason Smith and included Greg Murphy, Carol Miller, Ronny Jackson, Wesley Bell, and Ed Case. Smith said President Donald Trump had called him at 2 a.m., several hours before the meeting. Trump sent his regards, expressed appreciation for his relationship with Tokayev, and said he looked forward to the Kazakh president’s visit to Miami for the G20 summit. Smith said one purpose of the visit was to explore opportunities to expand economic ties and pursue a substantive bilateral dialogue. The visit reinforced Congress’s role in a relationship that has recently gained momentum at the presidential level. It also showed the breadth of the emerging agenda, from trade and investment to energy security, strategic supply chains, nonproliferation, and regional stability. A Delegation With Trade and Security Reach The delegation’s committee assignments closely matched that agenda. Smith, Murphy, and Miller serve on the Ways and Means Committee, which oversees trade and tariff legislation. Jackson serves on the Armed Services, Foreign Affairs, Intelligence, and Agriculture committees. Bell serves on the Armed Services, Foreign Affairs, and Oversight and Government Reform committees. Case sits on the Appropriations Committee and its Defense and Homeland Security subcommittees. That mix places delegation members on committees with jurisdiction over many of the issues now shaping the bilateral relationship. Congress can advance cooperation through trade legislation, appropriations, oversight, and support for American companies entering or expanding in Kazakhstan. Smith’s committee has jurisdiction over H.R. 1024, the bipartisan U.S.-Kazakhstan Trade Modernization Act, which would authorize the president to end the application of the Cold War-era Jackson-Vanik restrictions and extend permanent normal trade relations to Kazakhstan. Miller was among the bill’s original co-sponsors, although the issue was not mentioned in the public account of the meeting. Bipartisan congressional engagement could help translate recent presidential momentum into more durable institutional ties. Kazakhstan Has Made the U.S. Relationship a Priority From the Kazakh side, Tokayev has treated closer ties with Washington as a presidential priority. During his November 2025 visit to Washington, the two leaders welcomed commercial agreements worth more than $17 billion. Trump reaffirmed the U.S. commitment to the Enhanced Strategic Partnership, while the two presidents identified new areas for cooperation. The August 25 meeting also highlighted Kazakhstan’s support for the Abraham Accords and the Board of Peace, as well as the countries’ longstanding work on nuclear security and nonproliferation. Trade, investment, advanced technology, science, education, and culture were also discussed. Tokayev’s proposal for closer dialogue between Congress and the Kurultai would strengthen the parliamentary channel alongside the relationship’s presidential and executive-level diplomacy. In January, Tokayev appointed veteran diplomat Erzhan Kazykhan as his representative for negotiations with the United States on priority bilateral issues....

Donald Trump

Tokayev and Trump Put Results at the Center of a Growing Partnership

Investment, nuclear security and a possible visit to Kazakhstan featured in a July 10 telephone call between Kazakh President Kassym-Jomart Tokayev and U.S. President Donald Trump. Tokayev began by congratulating Trump on the 250th anniversary of U.S. independence. He noted that the United States had become a global superpower within three generations and expressed support for what Akorda described as the Trump administration’s “common-sense policies”. The Kazakh president also said those policies aligned with his own vision of building a Just Kazakhstan based on law and order. The language reflected the increasingly warm tone of the relationship and Tokayev’s effort to engage Trump through themes of national strength, order and economic achievement. The discussion soon turned to results. Tokayev reported progress in implementing agreements reached during his November 2025 visit to Washington. During that visit, Kazakh and U.S. partners announced 29 deals and cooperation initiatives worth nearly $17 billion, according to Kazakh officials. They included a planned $1.1 billion tungsten project involving U.S.-based Cove Capital. Kazakhstan’s scale gives the relationship wider strategic weight. By far Central Asia’s largest economy, it accounted for 56.4% of the combined GDP of the region’s five states in 2025, based on World Bank data. Kazakhstan also held 66.4% of Central Asia’s inward foreign direct investment stock at the end of 2025, according to UNCTAD. Its importance to the United States and its allies is equally concrete. Kazakhstan-origin material accounted for 24% of foreign-origin uranium deliveries to U.S. civilian nuclear-power operators in 2024, second only to Canada, according to the U.S. Energy Information Administration. Kazakhstan also accounted for 12.7% of the value of the European Union’s crude petroleum-oil imports from outside the bloc in 2025, behind only the United States and Norway, according to Eurostat. That economic and strategic weight helps align the priorities of the two governments. Washington wants dependable sources of critical minerals and more resilient supply chains. Kazakhstan wants American capital and technology to expand processing, manufacturing and higher-value production. The November package provided a framework for moving the relationship from political interest toward concrete commercial projects. Senator Steve Daines has helped sustain that momentum. Akorda specifically mentioned Tokayev’s recent meeting with Daines, alongside his contacts with U.S. Special Envoy for South and Central Asia Sergio Gor, other White House officials and American business leaders. Daines has become one of Washington’s leading advocates for closer engagement with Kazakhstan and the wider Caspian region. In a June speech on U.S. relations with the region, he called for new mines, upgraded infrastructure and artificial-intelligence investment. He also pressed Congress to repeal the Jackson–Vanik restrictions still affecting Central Asia. For Kazakhstan, the lingering Cold War-era measure leaves normal trade relations subject to annual review rather than permanent status. Its removal would provide greater political certainty for long-term American investment. The most strategically significant language in the Akorda readout concerned nuclear non-proliferation. Tokayev reaffirmed Kazakhstan’s commitment to “non-proliferation of nuclear weapons and enriched uranium” and stressed close collaboration with the International Atomic Energy Agency to ensure effective...

Titanium

UKTMP Eyes Expanded U.S. Presence as Kazakhstan’s Titanium Champion Seeks New Markets

ASTANA — On June 11, Sylvain Gehler, Chairman of the Board of the Ust-Kamenogorsk Titanium and Magnesium Plant (UKTMP), and Assem Mamutova, the company’s CEO, spoke with The Times of Central Asia during the Astana Mining and Metallurgy Congress (AMM). He outlined their plans to strengthen the company’s international footprint, with the United States emerging as a priority market. During the meeting, Gehler highlighted UKTMP’s ambition to further solidify its position as a leading aerospace-grade titanium supplier, building on six decades of operations and what Kazakh officials describe as roughly one-fifth of the global aerospace titanium market. “The combination of Kazakhstan’s resource base, UKTMP’s decades of experience, and the increasing importance of secure supply chains creates a strong platform for future growth. We are committed to remaining a trusted partner for aerospace customers around the world,” Gehler said. UKTMP, based in eastern Kazakhstan, is among the world’s largest vertically integrated titanium producers, controlling the entire production chain from raw materials to finished products. The company’s products are used in aviation, medicine, shipbuilding, petrochemicals, and nuclear industries. Among its international partners are Boeing, Airbus, Safran, General Electric, and other leading manufacturers. [caption id="attachment_50948" align="aligncenter" width="708"] UKTMP -Titanium sponge at the end of the distillation process[/caption] Gehler emphasized that “delivering consistent, high-quality titanium products reflects our commitment to rigorous standards and positions us to meet rising demand for resilient, transparent supply chains while expanding in key markets.” The company’s long-term development plans and initiatives aim at reinforcing Kazakhstan’s standing in the global titanium industry. According to Gehler, “UKTMP’s investment program through 2033 includes 25 projects worth more than $520 million, including construction of a new titanium sponge facility that would significantly expand production capacity.” Currently, UKTMP has 30 types of titanium alloys. Titanium and its alloys combine a high melting point, high electrical resistivity, exceptional strength-to-weight ratio, corrosion resistance in air and seawater, and non-magnetic behavior. It is also lightweight—its specific gravity is approximately 56% that of steel—biologically inert, and readily formed under pressure, making titanium a versatile structural material widely used in advanced industries. United States Demand for Titanium The American aerospace and defense sectors rely heavily on titanium, while disruptions to traditional supply chains following sanctions on Russia have heightened interest in alternative suppliers. Kazakhstan has emerged as one of the countries helping fill that gap. [caption id="attachment_50961" align="aligncenter" width="1447"] Source: USGS[/caption] Industry analysts note that the United States currently lacks domestic titanium sponge production and remains dependent on imports. In 2025 through July, Japan supplied 73% of U.S. titanium sponge imports, while Kazakhstan and Saudi Arabia each supplied 13%. This strategic reliance underpins the favorable treatment the U.S. currently gives to Kazakh titanium, since heavy supply restrictions would adversely impact the U.S. aerospace and defense industries. This has not always been the case. For UKTMP, deeper access to the U.S. market represents not only a commercial opportunity but the makings of a strategic partnership. Increasing sales to American customers would further anchor Kazakhstan within Western aerospace and other supply...

Kazakhstan and U.S. AI Companies Sign Agreements Worth $10 Billion

Kazakhstan took a major step toward its goal of becoming an AI leader in the heart of the Eurasian continent when new investment deals were signed with U.S. companies NVIDIA and Firebird. Kazakh Prime Minister Olzhas Bektenov hosted NVIDIA Vice President Rev Lebaredian and Firebird co-founders Razmig Hovaghimian and Alexander Yesayan on June 15. They signed agreements on artificial intelligence and digital infrastructure cooperation worth up to $10 billion, for Kazakhstan’s Data Center Valley project. Top Ten in Global AI Infrastructure Representatives of the U.S. companies and Kazakh officials at the signing ceremony paid tribute to Kazakh President Kassym-Jomart Tokayev for declaring 2026 the Year of AI in Kazakhstan, saying the move emphasized Kazakhstan’s commitment to AI development. Firebird’s Hovaghimian said realization of the agreements signed on June 15 would contribute to putting Kazakhstan in the top 10 leading AI countries worldwide before the end of 2027. Lebaredian described AI development as a “five-layer cake.” “The first layer is energy. The second layer is chips, including those from NVIDIA. The third layer is infrastructure. The next layer is AI models, such as ChatGPT,” and applications, he explained. The NVIDIA vice president said, “Kazakhstan can participate at every level of this five-layer cake.” An Old Power Source for Developing New Technology In the first phase of the project, some $5 billion will go to developing the energy sector. The Data Center Valley is located in Kazakhstan’s northern city of Ekibastuz in the Pavlodar Province. The area has long been known for its vast coal deposits and huge Soviet-era thermal power plant that provides electricity to the area. Kazakh officials have promised an initial 300 megawatts (MW) of power for the AI center, with output gradually rising to some 1000 MW. Kaztelekom chief Bagdat Musin was at the signing and said, “Essentially, Kazakhstan is transforming Ekibastuz coal into digital export revenue.” Minister of Artificial Intelligence and Digital Development Zhaslan Madiyev said Kazakhstan expects to “generate at least $3 billion in annual export revenue, create new high-skilled jobs, (and) attract leading global technology companies.” Discussions are still underway about exactly how the remaining $5 billion would be spent in developing the second phase of the project. Madiyev mentioned that when finished, Ekibastuz would host a “large-scale computing cluster powered by 100,000 state-of-the-art GPU (graphics processing units) chips, including NVIDIA GB300 and Vera Rubin.” A press release posted by Firebird noted the “three-phase expansion strategy” would enable the project “to scale beyond 100,000 NVIDIA Blackwell and Vera Rubin GPUs by the end of 2027, creating one of the world’s largest AI computing platforms.” Firebird Labs Kazakhstan will also be established, based on Kazakhstan’s International Center for Artificial Intelligence in the capital, Astana. Era of Expanding Kazakh-U.S. Ties The agreements with NVIDIA and Firebird are the latest in a series of deals with U.S. companies since late 2025. President Tokayev announced the plan for the Data Center Valley project in January 2026. In May, a U.S.-linked international consortium signed a deal worth some $1 billion...

U.S.-Kazakh Partnership

SelectUSA Investment Summit: U.S.-Kazakhstan Trade and Investment Relations on the Rise

Despite global economic headwinds and ongoing conflict in the Middle East, Kazakhstan is doubling down on its efforts to deepen commercial ties with the United States, an ambition on full display at this year’s SelectUSA Investment Summit in National Harbor, Maryland, near Washington, D.C. The annual forum, organized by the U.S. Department of Commerce, serves as the U.S. government’s flagship platform for attracting foreign direct investment. While SelectUSA is designed to attract foreign direct investment into the United States, Kazakhstan’s presence also reflects a broader shift: Kazakhstani companies are increasingly looking for ways to enter and scale in the U.S. market. [caption id="attachment_48403" align="aligncenter" width="1280"] Magzhan Ilyassov, Ambassador of Kazakhstan to the U.S. - image: TCA[/caption] “Kazakhstan views the United States not only as a strategic partner, but as an emerging priority destination for long-term investment and technological collaboration,” said Magzhan Ilyassov, Kazakhstan’s ambassador to the United States. “One of our missions is to facilitate collaboration for Kazakh companies to enter the American market while strengthening bilateral trade and innovation ties.” That vision is being driven in large part by Kazakhstan’s private sector. “We already have a significant number of companies operating in the U.S. market, including in fintech and construction,” said Timur Turlov, founder and CEO of Freedom Holding Corp. “We have learned how to meet international standards, and the products being developed within our ecosystems today are becoming truly global. I genuinely believe that our competitiveness has grown, and our business culture has matured. We are now going to see many more success stories of our companies expanding beyond Kazakhstan.” SelectUSA says its investment summit has helped generate more than $250 billion in new U.S. investment projects, supporting more than 125,000 jobs across the United States and its territories. This year marked a milestone in that evolving relationship. Kazakhstan became the first country from Central Asia and the South Caucasus to host an investment and trade roundtable at SelectUSA. The roundtable, focused on “Strategic Sectors and U.S. Market Entry Opportunities,” brought together government officials, investors, and business leaders, underscoring Kazakhstan’s transition from participant to initiative-taking player within SelectUSA. [caption id="attachment_48401" align="aligncenter" width="833"] U.S. Ambassador to Kazakhstan, Julie Stufft - image: TCA[/caption] U.S. Ambassador to Kazakhstan Julie Stufft said that a delegation of 30 Kazakhstani firms representing various business sectors has come to the U.S. for the summit to pursue trade and investment prospects. "This is a historic event for our relations and for Kazakhstani business - one that truly demonstrates the level of development Kazakhstani companies and investors have achieved, enabling them to enter the world's largest market: the United States," Ambassador Stufft stated. The roundtable highlighted a clear trend: Kazakhstani firms are increasingly looking outward. Companies from sectors including manufacturing, agri-tech, healthcare, food production, and digital platforms presented plans for entering or expanding in the U.S. market, while also outlining the challenges of regulatory compliance, localization, and competition. Support from institutions like SelectUSA and the U.S. Commercial Service remains critical in navigating these complexities. Economic conditions are...