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Steve HermanonMastodon19h ago
FT - A shell company backed by Donald Trump Jr and Eric Trump has merged with a critical minerals group that last year secured up to $1.6 billion in US government support to mine tungsten in Kazakhstan. https://www.ft.com/content/d99f6f75-931a-42e5-9111-0dc0acc4368c
Trust Metrics
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Accuracy92%
Framing88%
Context70%
Tone85%
Analysis Summary
Donald Trump Jr. and Eric Trump used a shell company to buy into Skyline Builders, which then merged with Cove Kaz Capital to create Kaz Resources — a company now developing one of the world's largest undeveloped tungsten deposits in Kazakhstan. The project has secured letters of interest for up to $1.6 billion in U.S. government financing from the Export-Import Bank and the International Development Finance Corporation. The Trump sons' involvement creates a direct financial stake in critical minerals projects backed by their father's administration, positioning them to benefit from public development financing and defense demand for tungsten.
Claims Analysis (3)
“A shell company backed by Donald Trump Jr and Eric Trump has merged with a critical minerals group”
Both Donald Trump Jr. and Eric Trump have been using a shell company to buy stakes in US construction group Skyline Builders, which merged with Cove Kaz Capital Group
“The critical minerals group last year secured up to $1.6 billion in US government support”
Indicative financing interest of up to $1.6 billion from U.S. development finance institutions — Export-Import Bank has issued a Letter of Interest for up to $900 million and U.S. International Development Finance Corporation for up to $700 million
“The project involves mining tungsten in Kazakhstan”
The companies will create Kaz Resources to operate the project, which comprises two deposits (Northern Katpar and Upper Kairakty) located less than 20 miles apart in the Karaganda mining district
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