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Tungsten Mining & Processing Project (Updated)
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PROJECT ID
1011202502
SECTOR
Mining & Metallurgy
PROJECT PHASE
Procurement & Construction
LOCATION
100000 Караганда, Казахстан
START DATE
7/6/2026
END DATE
12/31/2030
INVESTMENT VALUE
$ 1100 M
Active
Verified
Updated: 2 Days ago
Publication: May 8, 2026
Project Description
The Severniy Katpar Project is an integrated tungsten mining and processing development in the Shet District of Kazakhstan’s Karaganda Region, covering the Northern Katpar and Upper Kairakty deposits. The subsoil rights are held by Severniy Katpar LLP, which is owned 70% by U.S.-... Read more
Involved Companies & Contacts
Involved Companies & Contacts
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PARTY 1 - Involved Companies & Contacts
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PARTY 2 - Involved Companies & Contacts
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PARTY 3 - Involved Companies & Contacts
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Other important details
Alibek Kazbekuly - Country Director at Cove KAZ Capital Group LLC - alibek@kazresources.com
Cove Kaz Capital Group, a portfolio company of Kaz Resources, has executed definitive transaction documents with Tau-Ken Samruk National Mining Company, including a Share Purchase Agreement (SPA) and Shareholders’ Agreement (SHA), to advance the development of the Northern Katpar and Upper Kairakty tungsten deposits in Kazakhstan. (info@kazresources.com)
09/06/2026 Cove Kaz Capital Group LLC announced that site preparation will commence in July at the open pit mine location of the Northern Katpar and Upper Kairakty tungsten deposits in Kazakhstan, collectively known as Severniy Katpar. The work activities include the initial land survey, site road establishment, initial drill pad preparation, and the opening of a site office to support the commencement of the Definitive Feasibility Study (DFS).
DRA Global - Selected lead DFS contractor / preferred contractor and responsible for the mineral-processing component of the Definitive Feasibility Study. The August 2026 announcement states that the engineering companies were selected as preferred contractors subject to execution of definitive agreements; DRA has not been publicly announced as EPC contractor for main construction.
ERM - Preferred DFS consultant responsible for geology, mine planning, technical programs, and environmental and social frameworks.
Knight Piésold - Preferred DFS engineering consultant responsible for geotechnical engineering, hydrology and tailings-storage design/studies.
The agreement was signed on the sidelines of the C5+1 summit in Washington D.C. in November 2025.
The U.S. Export-Import Bank has indicated a letter of interest to fund up to USD 900 million of the investment.
Production capacity is projected at ~12,000 t/year (5,000 t from Northern Katpar + 7,000 t from Upper Kairakty) representing ~15 % of global production.
The joint venture between Tau-Ken Samruk and Cove Capital is for the “largest known undeveloped global tungsten resource”.
Severniy Katpar 48.732196, 72.985225
Upper Kairakty 48.651229, 73.127408
A second key project is the Akbulak Rare Earth Project (REEs), implemented as a joint venture with Qazgeology.
The company also manages a portfolio of licenses for lithium, niobium, tantalum, and other rare earth elements in Eastern Kazakhstan, conducting active exploration and drilling programs.
Legally, some projects are structured through the Astana International Financial Centre, while Cove Capital does not maintain a separate public office in Kazakhstan.