Truthout is an indispensable resource for activists, movement leaders and workers everywhere. Please make this work possible with a quick donation.
A bombshell New York Times report detailing how President Donald Trump’s eldest sons stand to profit from a tungsten mining deal negotiated by their billionaire father sparked outraged calls for accountability on Monday, with Democratic lawmakers characterizing the taxpayer-funded project as yet another example of the administration’s unchecked and unprecedented corruption.
“You will not believe it until you see it laid out,” US Rep. Mike Levin (D-Calif.) wrote in response to the Times story published over the weekend. According to the newspaper, Trump and his team — including billionaire Commerce Secretary Howard Lutnick — “won an agreement from the Kazakh leader to give a little-known American company access to one of the world’s largest untapped reserves of tungsten, a metal that the United States desperately needs for the production of missile warheads, fighter jets, computer chips, and other critical goods.”
Ahead of the deal’s completion last September, according to the Times, the Trump administration “approved preliminary applications for as much as $1.6 billion in federal financing for the American company, now called Kaz Resources, which plans to break ground on the project in rural Kazakhstan.”
Eric Trump and Donald Trump Jr., along with Lutnick’s sons Brandon and Kyle, are poised to benefit from the project. “Within weeks of the St. Regis negotiations, investors with a firm called Dominari Securities, which is housed at Trump Tower in New York and partly owned by the president’s two eldest sons… joined with other partners to take a 20% stake in a corporate entity related to the Kazakhstan project,” the Times reported.
“We’ve seen 300,000 Georgians lose health coverage in the last six months because they couldn’t find room in the budget for health insurance. But they’ve got room in the budget for a tungsten mine overseas, controlled in part by Prince Don and Prince Eric,” Sen. Jon Ossoff (D-Ga.) said in an MS NOW appearance late Monday.
Lutnick’s sons, meanwhile, “helped one of the lead investors… on the Kazakh deal raise $210 million in new capital for a related entity,” potentially resulting in a multimillion-dollar boon for Cantor Fitzgerald, the investment firm overseen by Brandon and Kyle Lutnick.
“They’re not even trying to hide their brazen corruption anymore,” wrote US Rep. Don Beyer (D-Va.). “President Trump and Secretary Lutnick used your tax dollars to further enrich their families from a major mining deal with Kazakhstan.”
Beyer stressed that “this isn’t an isolated incident.” The Times found that at least “14 companies working on critical mining deals with the US government that have ties to Cantor Fitzgerald or the Trump family,” including Kaz Resources, Perpetua Resources, and USA Rare Earth.
Trump’s family has profited massively from his return to the White House, thanks in a large part to a crypto scheme spearheaded by the president’s eldest sons. A “Trump Family Digital Grift Wealth Tracker” maintained by Democrats on the House Oversight Committee estimates that crypto projects have netted the president and his family over $2.4 billion in profits so far.
“This is the most corrupt administration in American history. It is not close,” Levin said Monday, accusing Trump’s Republican allies — including House Speaker Mike Johnson (R-La.) — of enabling the president as he loots federal coffers to further enrich himself and his family.
“We must keep digging, and keep asking the questions they do not want asked,” Levin added. “Republicans in Congress are unwilling to lift a finger. Mike Johnson is running a protection racket.”
Important Message: Please Read
For 25 years, Truthout has survived by publishing impactful investigative journalism and analysis; distributing full editions 365 days a year; and building a community of readers who support us with small, hard-earned donations.
Eighty percent of our $3 million yearly budget comes from small donors alone. Of those, 8,000 readers support us with monthly donations. Back in 2018, when Facebook decided to suppress the circulation of posts made by organizations, thereby cutting readers off from seeing many articles shared by the news organizations they had intentionally decided to follow, Truthout’s total traffic declined by 40 percent, as nearly all of our traffic from that platform disappeared.
As Google plans to roll out its new AI search bar, providing shoddy AI summaries instead of directing readers to our site, the consequences promise to be even more explosive. Google Search is our single largest source of traffic; it’s the route by which 27 percent of our readers find us. If even half of that 27 percent disappears, it will have a devastating impact on our journalism.
The entire journalism ecosystem will shoulder this blow, particularly independent publishers and news sites that depend on traffic and aren’t bankrolled by large corporations. If you can support Truthout with a donation today, you can help us resist the inevitability of Big Tech’s AI takeover. Please give today.