Benedikt Sobotka, CEO, Eurasian Resources Group:
"By strengthening relations with China, Eurasian Resources Group creates the conditions necessary for the full-scale implementation of Industry 4.0 at its enterprises"
Leading Group in the extraction and processing of mineral resources, which also has integrated energy, logistics and marketing businesses, Eurasian Resources Group has been cooperating with Chinese partners for a long time. We admire the success of the People's Republic of China, which has become the world's second largest economy through a series of wise reforms, and join in celebrating its 70th anniversary.
Along with the development of China, opportunities for the Group continue to develop. Our multi-level cooperation includes the conclusion of EPC contracts (engineering services, procurement and construction), financing of joint business development projects and the conclusion of long-term contracts for the supply of ERG products. China accounts for 20-25% of the total sales of Eurasian Resources Group, which makes it strategically important for the Group.
China's titanic efforts in the field of battery technology have led it to spearhead the electromobility revolution and become a leading driver of demand for the Group's cobalt, copper and other resources such as aluminum, ferrochromium and iron ore.
Although Eurasian Resources Group has been cooperating with China for a long time, in 2007 the development of their relations received a new round. Then, together with the Chinese international engineering and construction company of non-ferrous metallurgy, the first enterprise in Kazakhstan for the production of aluminum was founded - the Kazakhstan Electrolysis Plant, the construction of which took only 27 months.
In October 2018, the Metalkol RTR copper-cobalt processing facility was put into commercial operation. Located in the Democratic Republic of Congo, the facility will produce at full capacity an estimated 24,000 tonnes of cobalt and 120,000 tonnes of copper per year, which will also enable Eurasian Resources Group to become a leading supplier of cobalt both to China and globally.
It should be noted that the implementation of the Group's business projects in cooperation with China is carried out in accordance with the principles of sustainable development. For example, Metalkol RTR is operating in Responsible Manufacturing as defined by the Pure Cobalt program and is also implementing blockchain technology to improve traceability of the cobalt supply chain. It successfully processes waste from mineral processing previously deposited in the Kingamyambo tailing dump and the M�
