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
Modern Mining: ERG’s Kazchrome sets new ferroalloys output record in 2020
Modern Mining has covered the news that Kazchrome, one of the world’s largest high-carbon ferrochrome producers and a subsidiary of Eurasian Resources Group, set a production record in 2020, despite the “challenging market conditions” resulting from the COVID-19 pandemic. The article notes that Kazchrome has revealed it manufactured 1.84 million mt of ferroalloys in 2020, an increase of 1.7 per cent year on year, and adds that the company’s export shipments amounted to 1.7 million mt of ferroalloys. The article quotes Arman Esenzhulov, president of Kazchrome, who said, “The company is working to implement several strategic initiatives aimed at boosting ferroalloys production. We are also taking steps to provide a steady and reliable supply of raw materials to our ferroalloy plants.” Modern Mining also quotes Serik Shakhazhanov, chairman of the Management Board of Eurasian Group LLP, which manages ERG’s assets in Kazakhstan, who said, “We are proud to have achieved a record-breaking ferroalloys output and have met our production targets, all against the backdrop of such a challenging year. Kazchrome has demonstrated steady output growth, stemming, above all, from its successful business plan implementation.”
The full article is available here.