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Eurasian Resources Group acquires Manganese Zhairema JSC
Eurasian Resources Group (“ERG” or “the Group”), a leading diversified natural resources group headquartered in Luxembourg and the world’s largest high-carbon ferrochrome producer by chrome content, has signed an agreement to acquire Manganese Zhairema JSC, a company whose main business operations involve mining and processing manganese ore.
The enterprise has great potential to support ERG’s strategic goals in the ferroalloys markets. Kazchrome, ERG’s ferroalloys subsidiary in Kazakhstan, has recently been awarded the Responsible Chromium award by the International Chromium Development Association, as well as a Silver Award by the independent agency EcoVadis.
After staffing production facilities at Manganese Zhairema JSC and restructuring the site’s key assets, communications services and infrastructure, ERG plans to bring the facility to its maximum ore mining capacity, and in the long term, further process this into manganese concentrate. Around 350 jobs will be created at the enterprise.
Benedikt Sobotka, CEO of ERG, said: “Manganese Zhayrema JSC is an attractive manganese asset, and this acquisition reflects ERG’s overall focus on making our business more vertically integrated, developing our raw materials base and further increasing the efficiency of our ferroalloys division. We plan to fully integrate this enterprise into the Group, including through the implementation of the ERG Way Production System, whilst following responsible supply practices across the value chain and meeting high ESG standards.”