Cove Kaz and Qazgeology advance drilling at Kazakhstan's Akbulak rare earth project, but commercial viability remains unproven amid great power competition.
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Cove Capital
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About Cove Capital
Cove Capital LLC is a privately held, U.S.-based critical-minerals investment and development firm headquartered in New York, with additional offices internationally, led by chairman and CEO Pini Althaus, a long-time critical-minerals executive. The firm invests in and develops projects across rare-earth elements, tungsten, lithium, gallium, germanium and other strategic materials essential to defence, electronics and energy-transition supply chains, prioritising secure non-Chinese sources.
Cove Capital is best known for its activities in Kazakhstan, where its portfolio became the first U.S. entity to receive critical-minerals and rare-earth land concessions. In 2025 it formalised the Akbulak REE joint venture with Kazakhstan’s national mining and geology companies to develop the Akbulak Rare Earth Project in the Kostanay region, and announced a further joint venture targeting one of the world’s largest known undeveloped tungsten resources, advancing diversified Western access to critical minerals.
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Recent Articles
Kazakhstan is pushing beyond raw mineral extraction to claim a seat in global processing and manufacturing as U.S.-China competition reshapes critical
Kazakhstan pitches itself as a U.S. partner for critical minerals and tungsten supply chains, but processing gaps remain unresolved.
China controls 80%+ of tungsten supply chain. Kazakhstan's 1.4M tonne project aims to shift global dynamics. Refining capacity is the real chokepoint.
Israeli startup REEMAG advances NdFeB magnet recycling, offering a potential alternative to Chinese rare earth supply chains with 98% recycling efficiency.
