Businesses tied to Trump and Lutnick families gained from $1.6 billion Kazakhstan mining deal

Businesses connected to the sons of President Trump and Commerce Secretary Howard Lutnick received financial benefits after the families assisted in securing a $1.6 billion tungsten mining agreement in Kazakhstan. The deal awarded the contract to U.S. company Kaz Resources to develop one of the world's largest untapped tungsten reserves.

Tungsten is used in missiles, fighter jets, and computer chips.

Deal timeline and family involvement Dominari Securities, partly owned by President Trump's two eldest sons, joined investors to acquire a 20 percent stake in a company tied to the project. The firm is based in Trump Tower. Cantor Fitzgerald, controlled by the Lutnick family, helped one investor raise $210 million in capital for the same project.

Federal filings indicate both firms earned fees for their roles.

Government role and responses President Trump and Secretary Lutnick supported the deal during negotiations with Kazakhstan. A White House spokesman stated that the administration's priority is securing critical supply chains for national security. Dominari Securities did not respond to requests for comment.

The Trump brothers have said they were passive investors and not involved in deal specifics. Cantor Fitzgerald stated its role was limited to supporting capital raises and did not include negotiations with the administration. The Commerce Department said Secretary Lutnick had no discussions with Cantor Fitzgerald regarding the project and had previously sold his ownership stake in the firm.

Kaz Resources executive chairman Pini Althaus told the New York Times he had never met the Trump brothers and was unaware of their involvement.