Kazakh Minister of Industry and Construction Yersaiyn Nagaspayev met with Dominic Heaton, CEO of Cove Kaz Capital Group LLC.
Nariman Absametov, Chairman of the Management at Tau-Ken Samruk, also participated in the talks.
At the meeting, the parties discussed the current status and prospects of bilateral cooperation in the mining sector. They highlighted the strategic importance of the partnership between Kazakhstan and the United States, as well as the contribution of American companies to the national economy. Particular attention was paid to joint investment projects.
Following the discussions, the minister expressed interest in further developing win-win cooperation and launching new initiatives.
This follows an agreement signed in November 2025 between Tau-Ken Samruk and Cove Capital for the joint development of the Northern Katpar and Upper Kairakty deposits in the Karaganda region, which are among the world’s largest.
Under the agreement, the investor will commit $1.1 billion to build two processing facilities and a metallurgical plant. Once the project reaches full capacity, it is expected to employ approximately 1,000 people, with a priority on hiring Kazakhstani personnel.
A key strategic condition of the deal is a strict ban on the exports of raw ore and semi-processed products. The entire production process will focus exclusively on downstream processing. (Qazinform)