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
Eurasian Resources Group starts to manufacturing blooms at its SSGPO plant
As a part of the special 10% cost reduction project, JSC Sokolov-Sarbai Mining Production Association (SSGPO), owned by Eurasian Resources Group, has rolled the first pilot batch of blooms totalling 24 tonnes.
Blooms are used in the aluminium industry and they have been already successfully tested by JSC Kazakhstan Aluminium Smelter, another ERG’s plant and Kazakhstan’s only primary aluminium producer. It is planned now to supply 150 tonnes of steel billets to Pavlodar per month. This will fully meet the demand of Kazakhstan Aluminium Smelter. In the future, international shipments will also be considered.
The cost of blooms manufactured by ERG is about half the cost of those that used to be purchased in China. This provides a significant economic advantage for both JSC Kazakhstan Aluminium Smelter and for Eurasian Resources Group.