ERG continues to diversify its cobalt sales, signs agreements with established players in North America, Europe and Japan
• Up to 15kt of sustainably produced cobalt, or around 75% of ERG’s Metalkol volumes, signed under Memoranda of Understanding (MoUs) or binding agreements, to be supplied by ERG to Western battery supply chain by 2027
Eurasian Resources Group (“ERG” or “The Group”), a leading diversified natural resources group headquartered in Luxembourg, has been working on further diversifying its cobalt supply in the medium term. Following the signing of MoUs and binding agreements with North American projects of EVelution and Electra, and with Mechema and Marubeni to supply cobalt to Japanese market, ERG has achieved several other sales agreements.
ERG sees a range of opportunities for further cooperation with companies representing the Western battery supply chain and welcomes the development, in most recent years, of ambitious projects by both established and new players from North America, Europe and Japan.
ERG is one of the leading producers of sustainable cobalt in the Democratic Republic of Congo. Production at Metalkol is assured by the Clean Cobalt & Copper Framework, underwritten by regular independent auditors PwC. In October 2023, Metalkol also achieved ISO 9001:2015 certification for copper cathode and cobalt hydroxide production - globally recognised as the most comprehensive quality management system (QMS).
Shukhrat Ibragimov, Chairman of the ERG Board of Directors, said: “Through these agreements, ERG is proud to contribute to the development of strong, reliable and sustainable Western battery supply chains. Europe, North America and Japan are increasingly important sales destinations for battery materials, and these partnerships cement ERG’s place as a key supplier of metals like cobalt to these developing supply chains.”
Benedikt Sobotka, CEO of ERG, added: “Diversification of cobalt supply, a vital necessity to the battery industry globally, is an intrinsic part of ERG’s mission to support the green energy transition and the global agenda of reaching net-zero by 2050.”
