It has become known that tungsten deposits currently represent significant interest for the United States. In the context of supply shortages from China, this mineral is becoming particularly valuable. In this regard, the U.S. government, through the International Trade Administration, expresses its support for this initiative and is also ready to offer financial assistance through organizations such as the U.S. International Development Finance Corporation and the Export-Import Bank, which are involved in financing private sector projects abroad.
During negotiations, Cove Kaz faced strong competition from at least one state-owned Chinese company willing to offer higher prices. It is known that the value of tungsten deposits in Kazakhstan is estimated in the billions of dollars. In particular, two major deposits are mentioned — the Upper Kairaktinskoye and Northern Katpar, which, according to the National Welfare Fund of Kazakhstan, could make the country one of the leading players in the global tungsten market.
