History

Eurasian Resources Group (ERG), a privately held company, acquired Eurasian Natural Resources Corporation (ENRC) in December 2013 following its delisting from the London Stock Exchange.

The new management team has created a company focused on providing the materials the world needs while operating ethically and delivering returns to the communities where it operates. As a part of this, ERG launched business improvement programmes focusing on implementation of best practice in each of the associated industries. Our strategy of continuous improvement is delivering significant achievements in unit cost control, production efficiency and profitability. ERG has taken a review of its corporate governance and compliance practices and an in-depth study of the long-term viability of investments, which has allowed it to prioritise core assets and strategic projects for further development. This has involved selling assets worth approximately US$1 bn and increasing liquidity.

July:

Eurasian Resources Group and VTB Group reach agreement on six-year, €300M prepayment deal for aluminium supplies

Eurasian Resources Group secures debt refinancing with VTB Bank and Sberbank until 2020 and beyond

Eurasian Resources Group completes transaction to acquire 100% of Africo Resources Limited

June:

Eurasian Resources Group and China Nonferrous enter into a strategic long-term sales agreement for the delivery of copper concentrate from the Frontier mine in the DRC

Eurasian Resources Group enjoys top-level representation at SPIEF-2016

May:

ERG considers new investments to Kazakhstan, makes a contribution to dialogue on the Eurasian integration at Astana Economic Forum

Eurasian Resources Group helps strengthen ties between Europe and China through Luxembourg economic mission

April:

Eurasian Resources Group starts to manufacturing blooms at its SSGPO plant

March:

Dr. Alexander Machkevitch takes part in the meeting with Premier of the Republic of China, unveils joint projects and initiatives in metals & mining and infrastructure.

ERG partners with the Russian Union of Industrialists and Entrepreneurs (RSPP).

February:

ERG highlights the importance of Africa in its long-term international growth strategy at the recent Mining Indaba in Cape Town.

January:

ERG actively participates in the World Economic Forum Annual Meeting in Davos.

 
 

October:

Signed an agreement with VTB Bank on terms of renegotiating group debt maturity schedule to the Bank for up to seven years.

Signed two agreements with VTB Bank to obtain pre-export financing for JSC Kazakhstan Aluminium Smelter (KAS) and JSC Aluminium of Kazakhstan.

September:

Signed a principle agreement with China Nonferrous Metal Industry's Foreign Engineering and Construction Co., Ltd. (NFC), Export-Import Bank of China, Industrial and Commercial Bank of China Ltd. and Sinosure to complete and fund the construction of the Metalkol RTR copper and cobalt project in the DRC.

Signed a financing agreement with the China Development Bank for three projects in Kazakhstan: construction of an aluminium smelter, reconstruction of two power units at the Aksu power plant and construction of a hot briquetted iron production plant. The financing is part of China’s One Belt, One Road initiative. The agreement was signed at a meeting between the President of Kazakhstan and the President of the People’s Republic of China.

July:

ERG becomes an Industry Partner of the World Economic Forum.

June:

Signed agreements with Sberbank of Russia and VTB Bank to principally extend the schedule of payments on Group liabilities until 2021.

April:

Disposal of the Serov ferroalloys plant and its affiliated companies.

March:

Disposal of shares in Northam Platinum.

January:

Signed a memorandum of understanding with NFC to jointly implement three projects in Kazakhstan: construction of an aluminium smelter, reconstruction of 2 power units at the Aksu power plant and construction of a hot briquetted iron production plant.

 

December:

Disposal of Zhairemsky GOK.

October::

Extended maturity for one of its loan facilities with Russian Commercial Bank Ltd (part of the VTB group).

September:

Signed a new loan agreement with Development Bank of Kazakhstan.

April:

Entered into an amendment to extend the maturity for an existing loan facility with Sberbank of Russia.

April:

Disposal of the Serov ferroalloys plant and its affiliated companies.

February:

Disposal of the slag dump at Chambishi.

January:

Launched a comprehensive transformation programme.

ENRC’s History