Global Battery Alliance, where ERG is a Founding Member, Launches World’s First Battery Passport Proof of Concept
Eurasian Resources Group to invest USD 230m in building the most powerful wind power plant in Aktobe, Kazakhstan
Eurasian Resources Group upgraded by S&P to ‘B’ on strong performance and reduced debt; outlook is stable
ERG’s Metalkol Wins Three Awards for Galvanising and Mentoring Women in the Democratic Republic of the Congo
ERG’s inaugural Group-wide Youth Forum convenes together young production manufacturers and plant managers from Africa, Brazil, Kazakhstan and Europe
ERG carries out exploration works in Kazakhstan, commences drilling at an additional site in the Aktobe Region
All ERG’s enterprises in Kazakhstan continue to operate, with the situation under control
Eurasian Resources Group signs agreement to complete and operate a stretch of the FIOL railway in Brazil, proceeds to create a new logistics corridor
Sber and Eurasian Resources Group to develop ESG standards for the mining and metals industry
Eurasian Resources Group issues its Action Pledge in support of the United Nation’s International Year for the Elimination of Child Labour
ERG congratulates Good Shepherd International Foundation, winner of Thomson Reuters Foundation’s Stop Slavery Hero Award 2021
We announce with great sorrow that on February 3, 2021, Mr Alijan Ibragimov, one of the founders of ERG and a member of its Board of Directors, passed away at the age of 67
ERG’s Kazakhstan Aluminium Smelter increases aluminium production on soaring domestic and European demand
Eurasian Resources Group’s Metalkol RTR Commits to Responsible Minerals Assurance Process
Mr Alijan Ibragimov, shareholder of ERG, was awarded for his contribution to the fight against COVID-19
Eurasian Resources Group (ERG) allocates $US 5 million to help residents of Turkestan region in Kazakhstan
COVID-19: Eurasian Resources Group's Top Managers Have Offered to Take a Temporary 30% Reduction in their Salaries
Eurasian Resources Group implements global preventive measures to ensure the smooth running of operations and the safety of its people amidst the COVID-19 virus outbreak; takes appropriate action and plans for the future
Davos, 2020: Eurasian Resources Group among 42 world-leading organisations to agree 10 key principles to foster a sustainable battery value chain, part of the Global Battery Alliance’s 2030 vision
Eurasian Resources Group joins innovative organisations to support the NewSpace Europe 2019 in Luxembourg
Eurasian Resources Group becomes a Platinum partner of flagship Mining Space Summit in Luxembourg
ERG became the first industrial company in Kazakhstan to support the international Green Office Project
Eurasian Resources Group presents the results of its Student Entrepreneurship Ecosystem programme
Eurasian Resources Group acts as a general sponsor of the World Team Chess Championship in Kazakhstan
Eurasian Resources Group secures electricity supply for its copper operation at Frontier Mine in the DRC
ERG’s Metalkol signs a ten-year agreement to secure electricity supply to its cobalt and copper operations in the DRC
Eurasian Resources Group upgraded to ‘B’ by S&P following stronger results; outlook positive
Eurasian Resources Group acquires a controlling stake in JSC 3-Energoortalyk, which owns a thermal power plant in Kazakhstan
Eurasian Resources Group launches a “Smart Mine” for its iron ore production complex in Kazakhstan
Eurasian Resources Group discloses key sustainability indicators for 2016; highlights $56 million in community social investment and $440 million of savings
Eurasian Resources Group improves the terms of financing for iron ore supplies provided by the Eurasian Development Bank
Eurasian Resources Group is the Diamond Partner of the National Pavilion of the Grand Duchy of Luxembourg at Astana EXPO 2017
Eurasian Resources Group Improves Performance of its Frontier Mine in the Democratic Republic of the Congo to produce over 107kt of Copper in 2016
International delegates discussed future challenges of the chrome industry and visited ERG’s new ferroalloy plant in Aktobe as part of the ICDA Members Meeting conference in Kazakhstan
Eurasian Resources Group to apply an innovative management system for rail cargo transportation between Russia and Kazakhstan
Eurasian Resources Group improves performance of its Kazakhstan Aluminium Smelter to produce over 235,000 tons of primary aluminium in 2016
ERG presents at major conference for the mining industry in Brazil: sets the course for BAMIN development, discusses key technological trends
Eurasian Resources Group completes transaction to acquire 100% of Africo Resources Limited
ERG considers new investments to Kazakhstan, makes a contribution to dialogue on the Eurasian integration at Astana Economic Forum
Eurasian Resources Group helps strengthen ties between Europe and China through Luxembourg economic mission
Eurasian Resources Group takes part in the meeting with Premier of the Republic of China, unveils joint projects and initiatives in metals & mining and infrastructure
Reuters from Davos: Commodities in 'perfect storm' says ERG, as crisis starts super cycle
S&P (Platts): Metals industry needs regulation or framework to make 'green' sales viable: miners
SPIEF official magazine. Alexander Machkevitch: “Digital progress, clean energy, and ethical growth will facilitate the transition to the economy of the future”
Global Mining Review: Q&A from ERG on the role of mining in shaping the global economy post-pandemic
S&P Global FEATURE: Vertical integration, digitization needed for EV battery supply train traceability
Edie - UK businesses betting on the future of e-mobility should think about batteries today
Merkur (Luxembourg) - Covid-19: Eurasian Resources Group’s Top Managers Have Offered to Take a Temporary 30% Reduction in their Salaries
CNBC Africa - Eurasian Resources CEO reveals the biggest purchase order for the mining industry & how Africa stands to benefit
CNBC Africa - Eurasian Resources CEO: Why we are excited about Africa’s investment potential
International Mining - ERG says miners need to commit to greenfield copper projects to avoid looming shortages
Metal Bulletin - INTERVIEW: Cobalt market needs representative pricing for intermediates - Southgate
Reuters - China's Nanjing Hanrui can't be sure its cobalt did not involve child labour 12 December 2017
Mining Weekly - Electric vehicle revolution a rare investment opportunity as metals demand spikes
Coal International - Eurasian Resources Group’s Shubarkol Komir increases coal output by a third in the first nine months of 2017
S&P Global Platts - Eurasian Resources Group sees iron ore prices at $55-$65/dmt for one year
Sustainable Brands - Global Battery Alliance Aims to Eliminate Human, Environmental Toll of Global Battery Supply Chain
International Mining - ERG starts new chrome mine in Kazakhstan and hikes Frontier’s DRC copper output
Mining Review Africa - Eurasian Resources Group improves performance at its Frontier mine
Eurasian Resources Group: Base Metals Outlook
Benedikt Sobotka, CEO of Eurasian Resources Group (ERG), one of the world’s leading diversified natural resources groups, gives his outlook on base metals and Chinese demand for commodities as the annual gathering of the global metals community in London, LME Week, opens.
Q3 2017 has clearly demonstrated the resilience of the Chinese economy, which saw 6.8 per cent year on year GDP growth recorded. China has been the main driver of the 5-15 per cent price moves in industrial commodities during Q3 2017. The key question for investors now is: what will be the pace of Chinese growth following the 19th Communist Party Congress? We believe that the pace of China’s growth will be steady rather than slow in comparison to previous figures.
Copper: restrictions to supply likely to drive further price rises
Visible copper cathode stocks in China are at the lowest level in almost a year and scrap supply is tightening, meaning that any supply shocks could trigger surprise price hikes. The Chinese government’s efforts to tackle pollution will undoubtedly continue in 2018 and are likely to restrict scrap supply further as the country prepares to enforce the partial ban on scrap imports. In the medium to long-term, the fundamental outlook for copper is amongst the strongest of all metals. The lack of major copper plants due on stream; growing demand from the clean energy sector; and major infrastructure projects, notably the Belt and Road Initiative, should propel copper onto a path of substantial market deficits in the years to come, causing prices to rise.
Cobalt: phenomenal journey continues
As of late October, the LME cobalt price is up more than 80% YTD, and long term demand growth for the metal continues apace. We estimate that cobalt consumption in EV batteries will grow at a compound annual growth rate (CAGR) of 33% by 2021.
Globally, electric transportation is growing exponentially: all major auto makers are planning to launch dozens of new EV models. Even companies with a vested interest in the oil industry are expecting an inevitable shift to EVs. Vitol, the world’s largest oil trader, expects the oil industry to shrink after peaking around 2028-2030 as a result of the global shift to electric cars. Ben van Beurden, CEO of Royal Dutch Shell, also believes that demand could peak in the late 2020s and is stepping up the company’s investment in alternative energy as a result. Other major oil companies continue to invest in electric charging stations as part of their wider forecourt offering. We estimate that by 2019, the cobalt market’s supply demand gap will be at its largest in at least ten years. ERG’s Metalkol Project RTR in the Democratic Republic of the Congo will help to fill this gap: the project will be one of the world’s largest suppliers of cobalt and remains on schedule to achieve initial production at the end of 2018, ramping up to 14kt per annum in 2019. This amount will be enough to produce up to 1.5 million high-end electric vehicles.
Ensuring that sustainability obligations are met is the goal of the recently launched Global Battery Alliance, a World Economic Forum initiative with ERG as a founding member. The Alliance is dedicated to creating a responsible, child-labour-free supply chain for the markets of electric vehicles, gadgets and consumer electronics.
Iron Ore: we remain constructive
We believe that iron ore prices have now corrected close to fundamentally justified levels, and will stay mostly within the USD 55-65/t range over the next 12 months. Our long-term outlook on iron ore remains constructive. Whilst steel prices are likely to stay high during the winter period, lower production volumes due to strict seasonal air pollution control in China will impact iron ore demand.
Aluminium: possible surprises ahead
We think that 2018 could bring a few surprises in the aluminium market. Chinese authorities have still not provided a clear indication as to whether this winter’s 'War on Pollution' initiative will be repeated in 2018. China’s move to curb illegal capacities was followed by extensive environmental audits and production cuts across the supply chain. As a result, continued aluminum supply curtailments as well as shortages of bauxites, alumina and anodes in China could push aluminum prices towards USD 2,500/t.
We are approaching the most important period for contract negotiations, which should begin during the LME week. Although there have been a few rough patches in 2017, on the whole this has been a good year for producers. We are confident that the global mining industry is firmly on the road to recovery and once again becoming a source of strong returns in investment portfolios.
Ferrochrome: positive market outlook in the mid- to long-term
In the ferrochrome market, a period of high, winter electricity tariffs in South Africa led to a 50% Y-to-Y decrease in exports to China in June and July which, coupled with a positive market outlook for stainless steel, caused Chinese ferrochrome prices to rebound in Q3 2017. Positive market sentiments are reflected in the announcement that the Q4 2017 European Quarterly Benchmark for chrome is set at $1.39/lb exceeding our expectations by showing more than a 26% Q-to-Q increase. We maintain our positive outlook on the prospects for the world stainless steel market in Q4 2017 and beyond due to the growing demand for key end-use product segments, including: consumer appliances, kitchenware and construction - we believe these will support chrome and ferrochrome prices in the mid- to long-term. Nevertheless, in the short term there is a possibility of seeing slightly bearish market movement as large ferrochrome volumes from South Africa return to the market and chrome ore reserves in China increase, which may put some pressure on prices.