Trump and Allies Set to Profit From Controversial Mining Deal

WHO:

Alternet - U.S. Representative Don Beyer of Virginia criticized the situation, stating, “They’re not even trying to hide their brazen corruption anymore.”

NY Post - President Trump, his sons Donald Trump Jr. and Eric Trump, Commerce Secretary Howard Lutnick, and Lutnick's sons Brandon and Kyle are involved in the mining deal.

Alternet - Isaac Saul, founder of Tangle News; Ryan Grim, reporter for Drop Site News; Jesse Singal, co-host of "The Blocked and Reported" podcast; David French, New York Times columnist; Salim Yaqub, history professor, are quoted regarding the implications of the deal.

Alternet - Joe Walsh, former Republican representative, criticizes his past colleagues regarding the corruption allegations.

WHAT:

Alternet - The New York Times report indicated that President Trump helped his sons secure a billion-dollar mining deal in Kazakhstan, which involves access to tungsten mines.

Alternet - The report highlighted that the deal is set to financially enrich the families of both President Trump and Commerce Secretary Howard Lutnick.

Alternet - The New York Times report revealed that President Trump personally helped secure Kazakhstan’s agreement to grant mining rights to a U.S.-backed company, Kaz Resources.

Alternet - The report indicated that the administration approved preliminary applications for up to $1.6 billion in federal financing for the project, which still requires additional approvals.

Alternet - Investors linked to Dominari Securities acquired a 20 percent stake in a corporate entity connected to the Kazakhstan venture within weeks of the negotiations.

Alternet - Cantor Fitzgerald, controlled by the Lutnick family, helped raise $210 million for a related company involved in the transaction.

NY Post - A $1.6 billion mining deal in Kazakhstan is reported, which is expected to financially benefit President Trump's family and Howard Lutnick's family.

Alternet - The mining deal involves access to tungsten mines and is linked to a U.S.-backed company, Kaz Resources.

Alternet - Investors linked to Dominari Securities, partly owned by Donald Trump Jr. and Eric Trump, acquired a 20 percent stake in a corporate entity related to the Kazakhstan project.

Alternet - Cantor Fitzgerald, controlled by the Lutnick family, helped raise $210 million for a related company involved in the transaction.

WHERE:

NY Post - The mining deal is located in Kazakhstan.

Alternet - Dominari Securities is housed at Trump Tower in New York.

WHEN:

Alternet - The New York Times report detailing the allegations was published on a Sunday.

WHY:

Alternet - Joe Walsh, a former Republican representative, expressed that the Republican-led Congress does not believe their supporters care about the corruption, allowing it to continue.

Alternet - Joe Walsh criticized his former Republican colleagues for allowing "public corruption, utterly obscene, at a scale we’ve never seen," suggesting they believe their supporters do not care about the corruption.

Alternet - The report suggests a pattern of self-enrichment during Trump's presidency, indicating ethical violations and self-dealing.

Alternet - Joe Walsh claims that the Republican-led Congress does not believe their supporters care about the corruption, allowing it to continue.

HOW:

Alternet - The report detailed that within weeks of negotiations, investors linked to Dominari Securities acquired a 20 percent stake in a corporate entity related to the Kazakhstan project.

Alternet - The U.S. government, under Trump's administration, approved preliminary applications for up to $1.6 billion in federal financing for the mining project, which still requires additional approvals.

(UPDATED June 30, 2026 21:30 UTC)

A recent report from The New York Times reveals that President Trump played a role in helping his sons secure a billion-dollar mining deal in Kazakhstan, which grants access to valuable tungsten mines. This deal is expected to financially benefit both President Trump’s family and Commerce Secretary Howard Lutnick, prompting criticism from U.S. Representative Don Beyer of Virginia, who stated, “They’re not even trying to hide their brazen corruption anymore.” Additionally, former Republican representative Joe Walsh noted that the Republican-led Congress seems to believe their supporters are indifferent to such corruption, allowing it to persist.

(UPDATED June 30, 2026 10:15 UTC)

A report from The New York Times reveals that President Trump played a key role in securing Kazakhstan's agreement to grant mining rights to a U.S.-backed company, Kaz Resources, while the administration also approved preliminary applications for up to $1.6 billion in federal financing for the project, pending further approvals. Additionally, investors linked to Dominari Securities acquired a 20 percent stake in a corporate entity tied to the Kazakhstan venture shortly after negotiations began, and Cantor Fitzgerald, controlled by the Lutnick family, raised $210 million for a related company involved in the deal. Meanwhile, Joe Walsh has criticized his former Republican colleagues for permitting what he describes as "public corruption, utterly obscene, at a scale we’ve never seen," implying that they believe their supporters are indifferent to such issues.

(UPDATED June 30, 2026 01:40 UTC)

A significant $1.6 billion mining deal in Kazakhstan is reportedly set to financially benefit President Trump and his family, along with Commerce Secretary Howard Lutnick and his sons. The deal, which involves access to tungsten mines and is linked to a U.S.-backed company called Kaz Resources, has drawn criticism from former Republican representative Joe Walsh, who highlights ongoing corruption allegations within the party. Investors associated with Dominari Securities, partly owned by Donald Trump Jr. and Eric Trump, have acquired a 20 percent stake in the project, while the U.S. government under Trump’s administration approved preliminary applications for substantial federal financing, although further approvals are still needed.