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Trump Cut a Billion-Dollar Mining Deal. His Sons Stand to Profit.
The New York Times • • nation
Key Points:
- In September, Commerce Secretary Howard Lutnick and Kazakhstan’s president finalized a deal in New York, with President Trump joining by phone to secure access for an American company to Kazakhstan’s large tungsten reserves.
- Tungsten is critical for U.S. defense and technology industries, used in missile warheads, fighter jets, and computer chips.
- The Trump administration approved up to $1.6 billion in federal financing for Kaz Resources, the American company planning to develop the tungsten project in Kazakhstan.
- Concurrently, the sons of Trump and Lutnick engaged in business deals with partners linked to the negotiations, highlighting concerns about potential conflicts of interest and self-enrichment during the Trump administration.
