Donald Trump Jr. com Ivanka Trump e Eric Trump.
“Grotesque”. Controversy hits the US President’s family, after investment in a Kazakh mining company that would later be awarded a very generous loan granted by the Trump administration.
An alleged investment carried out by the children of US President Donald Trump in a mining company in Kazakhstan is generating criticism and accusations of corruption in the United States.
According to, Donald Trump Jr. e Eric Trump in August, they acquired a stake in a Kazakh mining company for an undisclosed amount. The same company was later awarded a loan of 1.6 billion dollars granted by the North American Government.
The operation involves Skyline Builders, a construction group in which the US President’s children invested in August through American Ventures, an entity linked to Dominari Securities. In October, the two strengthened their position in Skyline, participating in a private placement that raised almost $24 million. A few days later, Skyline agreed to pay US$20 million for a 20% stake in a company with significant critical mineral assets in Asia.
According to sources cited by the FT, this company was Kaz Resources, a subsidiary of Cove Capital, a mining investment group based in New York that also controls Cove Kaz Capital.
Cove Kaz had been chosen to develop the Northern Katpar and Upper Kairakty projects in central Kazakhstan, described as the largest tungsten resource yet to be explored in the world.
The deal was announced in November by Cove Capital and the National Mining Company of Kazakhstan. The company now controls 70% of the projects, which have financing commitments of up to 1.6 billion dollars from the US Export-Import Bank and the Development Finance Corporation, two US federal agencies.
The newspaper points out, however, that there is no indication that Trump’s children knew that the company was in negotiations with their father’s administration, nor that they influenced the decision to grant financing.
Despite the caveat, the news provoked strong reactions among political analysts, commentators and public figures on social media. Several critics classified the case as yet another example of conflicts of interest involving the Trump family.
Martin Pelletier, portfolio manager at TriVest Wealth, called the situation “shameful” and “unsurprising,” while radio host Marm Ames called the alleged corruption associated with the Trump family “vast” and “grotesque.” Commentator Kyle Kulinski and former tennis player Martina Navratilova also reacted with irony and indignation to the news, noted .
