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 has a balanced product portfolio in steelmaking materials, non-ferrous and energy. The Board regularly reviews and optimises the Group’s business plans with respect to operations and working capital. Our CAPEX programme is under continuous assessment in order to reflect market conditions.
The new Aktobe Ferroalloy Plant began trial production at the end of 2014 with a designed annual capacity of 440kt of high-carbon ferrochrome. The additional capacity from the new plant, based on advanced technology, aims to boost ferrochrome production and to retain Kazchrome as a low-cost ferroalloys producer.
The Group’s strategic portfolio includes growth projects in various divisions which will enable ERG to principally increase its revenue.
In Kazakhstan, Eurasian Resources Group is further expanding Kazchrome, which is the world's largest ferrochrome producer by chrome content, which includes the expansion of the 10th Anniversary Mine (ShDNK-2), and plans to build a new module of its aluminum smelter which will add up to 300ktpa to the Group primary aluminium capacity, increasing it thus by more than twice. The reconstruction of 2 energy units at Eurasian Energy Corporation will allow to expand the installed power capacity in Kazakhstan by additional 50 MW.
Investments in Africa are focused on copper and cobalt expansion projects, where ERG continues to develop Frontier and has recently launched its Metalkol Roan Tailings Reclamation (RTR) facility which is being expanded with Phase II. RTR is a major tailings reprocessing operation in the Democratic Republic of the Congo, that will provide a long-term, stable supply of ‘green’, ethically-produced cobalt and copper to the market.
In 2020 the Group announced about the planned lithium-ion battery precursor plant, to be exclusively supplied with cobalt hydroxide from its Metalkol RTR facility (the DRC), aiming to further strengthen its position as a strategic supplier of traceable battery materials for the electric vehicle industry.
In Brazil ERG continues to develop BAMIN, an integrated mining and logistics project that comprises the high quality Pedra de Ferro iron ore mine, the Porto Sul multi-use deep water port, and Stage 1 of the FIOL transontinental railway (The West-East Integration Railway). Pedra de Ferro is a high-quality iron ore deposit with DSO and concentrate production.