17.07.2024
12.08.2021
18.10.2017
27.09.2016
Eurasian Resources Group has a balanced product portfolio in steelmaking materials, non-ferrous and energy. The Board regularly reviews and optimises the Group’s business plans with respect to operations and working capital. Our CAPEX programme is under continuous assessment in order to reflect market conditions.
The Group’s strategic portfolio includes growth projects in various divisions which will enable ERG to principally increase its revenue.
In Kazakhstan, Eurasian Resources Group is further expanding Kazchrome, which is the world's largest ferrochrome producer by chrome content, which includes the expansion of the 10th Anniversary Mine (ShDNK-2), and plans to build a new module of its aluminum smelter which will add up to 300ktpa to the Group primary aluminium capacity, increasing it thus by more than twice. The reconstruction of 2 energy units at Eurasian Energy Corporation allows ERG to expand the installed power capacity in Kazakhstan by additional 50 MW.
ERG further develops its portfolio of assets both in Africa and globally to produce high quality materials for the li-ion battery sector.
ERG’s Metalkol, a major tailings reprocessing operation in the Democratic Republic of the Congo, has become one of the world's largest producers of cobalt and a large producer of copper. The Group is building a cobalt beneficiation facility, which is planned to be commissioned by the end of 2024 and cobalt hydroxide should be provided from Metalkol. This facility provides important addition to ERG's portfolio of assets producing key battery materials as it should deliver high purity cobalt hydroxide tailored for the battery market.
ERG has also recently breaked ground on a hydrometallurgical plant at COMIDE which comprises some of the largest known copper and cobalt resources globally, still to be developed. The plant is designed for phased operational output, with expansion potential to produce approximately 120,000 tonnes of copper cathode and 15,000 tonnes of cobalt hydroxide annually. The COMIDE project includes the construction of a hydrometallurgical plant, an extensive exploration and drilling programme, as well as mine development – backed by a total investment of around USD$800 million.
In Brazil ERG continues to develop BAMIN, an integrated mining and logistics project that comprises the high quality Pedra de Ferro iron ore mine, the Porto Sul multi-use deep water port, and Stage 1 of the FIOL transontinental railway (The West-East Integration Railway). Pedra de Ferro should consolidate the State of Bahia's position as the third largest iron ore producer in the country. The mine has some of highest-grade and lowest impurity iron ore in the world (an average 65.5-66% Fe DSO fines in 2022), helping customers to very substantially reduce carbon footprint
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