Eurasian Resources Group enters into a principal agreement with China's NFC to complete the construction of its project in Africa; EXIM and ICBC to support the financing, Sinosure to provide the insurance
Fortune: The batteries that will power our green recovery
Fortune has covered the op-ed by Benedikt Sobotka, ERG's CEO, co-authored with Michael Insulan, Vice President, Commercial, First Cobalt. The article notes that Eurasian Resources Group and First Cobalt Corporation supply cobalt to companies that use it to produce lithium-ion batteries and adds that the crucial function of lithium-ion batteries is the role they play in electric vehicle production. The op-ed posits that the next few decades will see demand for critical battery materials like lithium, cobalt, nickel, and graphite grow exponentially, with the new energy vehicle market as a key factor in the trend. The op-ed notes that speeding up responsible sourcing and sustainability practices through solutions such as blockchain, which can be deployed to verify ESG compliance and where materials were sourced, is central to the goals of the Battery Passport initiative. The Battery Passport is among the Global Battery Alliance’s crucial initiatives, aimed at ensuring transparency with regards to a given battery’s sustainability and environmental impact. The article adds that ERG is a founding member of the Global Battery Alliance, with major businesses, international organisations, and NGOs among other members collaborating on facilitating a more sustainable battery supply chain.
The full article is available here.