Kazakhstan to Launch Full-Cycle Tungsten Operations at Giant Deposits

Kazakhstan is embarking on a significant venture to transform two of the world's largest undeveloped tungsten deposits into the nation's inaugural full-cycle tungsten operation. This strategic move aims to process ore domestically, rather than exporting it as raw material, thereby enabling Astana to capture greater value from its critical mineral reserves.

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The Northern Katpar project involves establishing a full production cycle in Kazakhstan, from ore mining and beneficiation to metallurgical processing, based on the Northern Katpar and Upper Kairakty deposits. This is the first project of its kind to be implemented in Kazakhstan.

The Northern Katpar and Upper Kairakty deposits are being developed through a joint venture between U.S.-based Cove Capital, which holds a 70% stake, and Kazakhstan's state mining company Tau-Ken Samruk, holding the remaining 30%. Cove Capital is committed to providing at least $1.1 billion in financing, alongside crucial processing technology and access to international markets. The partnership was formalized in November 2025 during President Kassym-Jomart Tokayev’s visit to Washington D.C., with investment agreements signed in February 2026.

Tau-Ken Samruk highlighted the project's pioneering nature, stating, "The Northern Katpar project involves establishing a full production cycle in Kazakhstan, from ore mining and beneficiation to metallurgical processing, based on the Northern Katpar and Upper Kairakty deposits. This is the first project of its kind to be implemented in Kazakhstan." The planned output includes ammonium paratungstate (APT), a vital processed product in the tungsten supply chain, signifying a move towards higher-value production within the country.

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This work will confirm and optimize the existing feasibility studies, and refine the project’s economic and technical indicators, as well as its mineral resources and reserves.

The project is currently in the Definitive Feasibility Study (DFS) phase, with final production capacity, economics, and launch dates yet to be determined. Cove Kaz Capital CEO Dominic Heaton explained that this stage will "confirm and optimize the existing feasibility studies, and refine the project’s economic and technical indicators, as well as its mineral resources and reserves." The DFS, which commenced in July 2026, is expected to conclude by the end of 2027, paving the way for a Final Investment Decision and detailed due diligence by financing partners.

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The principal objective of this stage is to finalize the overall mine plan, define the parameters of the processing facilities and prepare the project for a Final Investment Decision, as well as for detailed due diligence by prospective financing partners.