ASTANA — Kazakh Minister of Industry and Construction Yersaiyn Nagaspayev discussed a $1.1 billion investment project in the mining sector with Cove Kaz Capital Group CEO Dominic Heaton, focusing on developing major deposits in the Karagandy Region and expanding U.S.-Kazakhstan investment cooperation.
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The meeting focused on the implementation of a large-scale investment project to develop the North Katpar and Upper Kairakty deposits in the Karagandy Region, reported the ministry’s press service on March 12.
The project follows an agreement signed in November 2025 between Tau-Ken Samruk and Cove Capital. Under the deal, the investor plans to invest $1.1 billion to build two enrichment plants and one metallurgical plant.
At full capacity, the project is expected to create around 1,000 jobs, with priority given to local workers.
A key strategic condition of the project is a ban on the export of raw materials and semi-finished products. Production will focus exclusively on deep processing, supporting the development of higher value-added metallurgy in Kazakhstan.
