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.

January:

Eurasian Resources Group participated in the inaugural Future Minerals Forum in Riyadh, Saudi Arabia, on 11th-13th January.

February:

ERG Exploration, part of Eurasian Resources Group, commenced drilling operations at the 130 km² Bilge exploration site in the Aktobe Region.

March:

Along with the Embassy of Kazakhstan in Belgium, the Honorary Consulate of Kazakhstan in Luxembourg and the Kazakhstan-based KATD Group, Eurasian Resources Group hosted an event on 25th March to mark Nauryz, the Kazakh celebration of spring, light and harmony.

April:

Eurasian Resources Group organised tours of the Astana Opera State Theatre for its employees in five cities across Kazakhstan.

May:

On 16th-18th May, Eurasian Resources Group held its inaugural international Youth Forum, which gathered together 250 of the Group’s young employees from Kazakhstan, the Democratic Republic of the Congo, South Africa, Mauritius, Mozambique, Brazil, and the Netherlands.

 
 

January:

ERG among first 25 businesses supported “Terra Carta” under leadership of HRH The Prince of Wales and the Sustainable Markets Initiative

Mr Alijan Ibragimov, one of the founders of ERG and a member of its Board of Directors, passed away at the age of 67

February:

ERG’s Kazchrome sets a historic ferroalloys production record

ERG announces the appointment of Mr Shukhrat Ibragimov to its Board of Managers

March:

BAMIN wins bid to operate FIOL railway, a boost to ERG’s iron ore project in Brazil

April:

Eurasian Resources Group establishes ESG Committee

Eurasian Resources Group issues its Action Pledge in support of the United Nation’s International Year for the Elimination of Child Labour

May:

EV supply chain majors pilot Re|Source, a blockchain solution for end-to-end cobalt traceability

June:

SPIEF’21: Sber and Eurasian Resources Group to work on joint digital projects

SPIEF’21: The Eurasian Development Bank intends to provide financing to SSGPO, Eurasian Resources Group’s iron ore division

Sber and Eurasian Resources Group to develop ESG standards for the mining and metals industry

ERG takes part in key panel discussion on climate change agenda in developing countries - organised by Climate Governance Initiative Russia in collaboration with Sber

ERG marks progress in eliminating child labour from mining in the wider industry

July:

ERG participated in a panel discussion entitled “Board challenges in tackling climate change in Emerging Markets”, organised by the Climate Governance Initiative (CGI) Russia, a local chapter of the World Economic Forum’s Climate Governance Initiative

ERG released a four-part video series in partnership with the Good Shepherd International Foundation focussing on the successes of the partnership and future plans in the DRC

August:

ERG marked progress in piloting Re|Source, a solution to trace responsibly produced cobalt, with the project being implemented across Tesla’s supply chain

September:

ERG and its wholly-owned Brazilian subsidiary BAMIN, signed a concession agreement with the Brazilian Federal Government to complete and operate a section of the FIOL (East-West Integration) railway

ERG and China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC China) signed an Еngineering, Procurement and Construction (EPC) contract to construct a special coke plant at JSC Shubarkol Komir in Kazakhstan’s Karaganda Region

ERG’s Kazchrome was awarded the ICDA’s Responsible Chromium Label as well as a Silver Award by the independent agency EcoVadis

ERG signed a cooperation agreement with Eurasian Machinery LLP to acquire Hitachi equipment for its SSGPO operation

ERG’s Donskoy Ore Mining and Processing Plant launched a unique project for the processing of industrial waste

October:

ERG Africa signed a Community Development Plan Agreement pledging its support for sustainable development initiatives to benefit six communities near its operations in the DRC

ERG, along with the Embassy of Kazakhstan in the Kingdom of Belgium and the Honorary Consulate of Kazakhstan in Luxembourg, launched commemorative stamps to mark the 30th anniversary of Kazakhstan’s independence

ERG was among 57 global organisations to release an open letter calling on the EU to act on ESG

ERG Africa handed over a newly constructed school complex to the Lenge community in the Democratic Republic of the Congo.

ERG participated in a panel discussion entitled “How can batteries enable a sustainable transition to a greener economy?,” hosted by Responsible Investor

November:

ERG participated in a roundtable entitled “Kazakhstan-Belgium-Luxembourg: prospects for investment cooperation” which took place as part of President of Kazakhstan Kassym-Jomart Tokayev’s official visit to the Kingdom of Belgium

ERG became a platinum partner of the DRC-Africa Business Forum 2021

ERG shared updates on its ESG goals and sustainability initiatives at MINEX Eurasia 2021, the 9th annual Eurasian Mining and Investment Conference

ERG launched virtual and in-person tours of its industrial enterprises in Kazakhstan to mark the 30th anniversary of Kazakhstan’s independence

December:

ERG signed an agreement to create the ESG Alliance with Sber and other major companies

ERG signed an agreement to acquire Manganese Zhairema JSC, a company whose main business operations involve mining and processing manganese ore

ERG agreed a contract with ThyssenKrupp with plans to invest $44 million into filter technology as part of a major environmental project at the Group’s operations in Kazakhstan

Along with the Good Shepherd International Foundation, ERG hosted a tree planting ceremony at the Bon Pasteur child protection centre in Kolwezi, DRC

ERG strengthened its responsible sourcing efforts, including through launching a new Responsible Aluminium Framework and expanding its Clean Cobalt Framework to include copper

 
 

January:

Eurasian Resources Group among 42 world-leading organisations at WEF Davos meeting to agree 10 key principles to foster a sustainable battery value chain, part of the Global Battery Alliance’s 2030 vision

February:

Eurasian Resources Group plans battery material plant

March:

Eurasian Resources Group implements global preventive measures to ensure the smooth running of operations and the safety of its people amidst the COVID-19 virus outbreak; takes appropriate action and plans for the future

April:

COVID-19: Eurasian Resources Group's Top Managers Have Offered to Take a Temporary 30% Reduction in their Salaries

May:

Eurasian Resources Group (ERG) allocates $US 5 million to help residents of Turkestan region in Kazakhstan

June:

Eurasian Resources Group launched a separate communications channel to discuss innovative ideas with its suppliers

Mr Alijan Ibragimov, shareholder of ERG, was awarded for his contribution to the fight against COVID-19

August:

Eurasian Resources Group donates USD2.4m to help fight COVID-19 in Kazakhstan

October:

Eurasian Resources Group Joins 1000 International Business Leaders to Pledge Support for Multilateralism as UN Turns 75

Eurasian Resources Group publishes Sustainable Development Report 2019

Eurasian Resources Group co-hosts concert in Luxembourg to mark 175 years to Abai Kunanbayev

November:

Sberbank and Eurasian Resources Group to develop cooperation under the Sber ecosystem

Eurasian Resources Group’s Metalkol RTR Commits to Responsible Minerals Assurance Process

December:

ERG’s Kazakhstan Aluminium Smelter increases aluminium production on soaring domestic and European demand

BAMIN: ERG’s investments in Brazil show results

 
 

January:

ERG implements a blockchain solution on the IBM Blockchain Platform to support its Clean Cobalt Framework at Metalkol RTR

February:

Eurasian Resources Group helps Kazakhstan identify the professions of the future

March:

Eurasian Resources Group acts as a general sponsor of the World Team Chess Championship in Kazakhstan

Luxembourg celebrates Nauryz for the first time

May:

Gala reception in Luxembourg marks Eurasian Resources Group’s five-year anniversary and the opening of the Honorary Consulate of the Republic of Kazakhstan in the Grand Duchy

Eurasian Resources Group presents the results of its Student Entrepreneurship Ecosystem programme

Eurasian Resources Group signs a major agreement for the construction of port in Brazil as part of its BAMIN project

June:

ERG became the first industrial company in Kazakhstan to support the international Green Office Project

Eurasian Resources Group and Credit Bank of Moscow enter into inaugural agreement

July:

Eurasian Resources Group launches innovative electrostatic air filters overhaul in Kazakhstan

August:

New smelting furnace commences production at Aksu Ferroalloy Plant

ERG’s Metalkol RTR announces inaugural Clean Cobalt Performance Report

September:

Eurasian Resources Group supports inaugural Bon Pasteur child protection centre in Kolwezi for almost 1000 children

Eurasian Resources Group supports the first ever Kazakh meet-up in Luxembourg

October:

Eurasian Resources Group publishes Sustainable Development Report 2018

The first Festival of Kazakhstan Cinema in France supported by Eurasian Resources Group

Eurasian Resources Group One Of Seven Mining and Metals Companies Partner on Responsible Sourcing with World Economic Forum

Eurasian Resources Group becomes a Platinum partner of flagship Mining Space Summit in Luxembourg

November:

Eurasian Resources Group joins innovative organisations to support the NewSpace Europe 2019 in Luxembourg

December:

The first ever official celebrations of Kazakhstan's Independence Day were held in Luxembourg

 
 

January:

Eurasian Resources Group completes the construction of two new bauxite mines

March:

Eurasian Resources Group signs an agreement on the reduction of loan interest rates with Sberbank of Russia

April:

Eurasian Resources Group acquires a controlling stake in JSC 3-Energoortalyk, which owns a thermal power plant in Kazakhstan

May:

Kazchrome achieves record-high chrome ore output and ferroalloys production in 2017; highlights sustainable development achievements

July:

Eurasian Resources Group upgraded to ‘B’ by S&P following stronger results; outlook positive

Eurasian Resources Group announces plans to strengthen its aluminium business

August:

Eurasian Resources Group’s Metalkol RTR signs a ten-year agreement to secure electricity supply to its cobalt and copper operations in the DRC

Eurasian Resources Group achieves credit rating upgrade from Moody’s; outlook positive

Eurasian Resources Group reports progress in embedding sustainability

October:

Eurasian Resources Group sign Memorandum of Understanding with Honeywell to enhance productivity of Global Operations

November:

Eurasian Resources Group secures electricity supply for its copper operation at Frontier Mine in the DRC

December:

Eurasian Resources Group supports Pact’s ‘Children out of Mining’ programme in the DRC

Eurasian Resources Group Launches Its Clean Cobalt Framework at Metalkol RTR

 
 

December:

Eurasian Resources Group launches a Smart Mine for its iron ore production complex in Kazakhstan

November:

Eurasian Resources Group holds its second new and improved Innovators’ Forum in Astana

Eurasian Resources Group discloses key sustainability indicators for 2016; highlights $56 million in community social investment and $440 million of savings

October:

Eurasian Resources Group improves the terms of agreement with the Eurasian Development Bank for financing for iron ore supplies

September:

Eurasian Resources Group and Bahia Mineração sign an MoU with State of Bahia and a Chinese consortium to develop the 20 mtpa integrated iron ore project in Brazil

Eurasian Resources Group joins leading business and international organisations to launch the Global Battery Alliance

July:

Eurasian Resources Group announces its plans to build a slag processing facility at the Aksu Ferroalloys Plant in Kazakhstan

Eurasian Resources Group’s credit rating is upgraded by Moody’s to B3 from Caa1 the corporate family rating (CFR) and to B3-PD from Caa1-PD the probability of default rating (PDR) with stable outlook

June:

Eurasian Resources Group becomes the Diamond Partner of the National Pavilion of the Grand Duchy of Luxembourg at Astana EXPO 2017

Eurasian Resources Group and VTB Bank sign a new memorandum

Eurasian Resources Group’s credit rating is upgraded by Standard & Poor’s to B-/B from CCC+/C with stable outlook

May:

Eurasian Resources Group starts mining at a new chrome deposit in Kazakhstan with reserves exceeding 3 Mt of ore

March:

Eurasian Resources Group launches an initiative to support student entrepreneurship

February:

Eurasian Resources Group agrees with VTB Bank to restructure its debt

January:

Eurasian Resources Group launches awards to support start-ups in Kazakhstan

Eurasian Resources Group partners with the Good Shepherd Sisters to support the Bon Pasteur Alternative Livelihood Programme

 
 

December:

ERG signs an iron ore agreement with MMK to supply more than 30Mt of pellets and concentrate until the end of 2020

Kazakhstan Aluminium Smelter gets the special Quality Leader prize of the Altyn Sapa Award of the President of the Republic of Kazakhstan

October:

ERG and Eurasian Development Bank sign a $US95M four year prepayment agreement for iron ore supply

ERG improves the debt service conditions with Sberbank of Russia PJSC

ERG sets the course for BAMIN development in Brazil

September:

ERG extends the term of the employment agreements with Mr Benedikt Sobotka and Mr Aldiyar Kaztayev by another three years through 2019, with an option to extend by a further two years until 2021

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.

ERG becomes a Strategic Partner Associate of the World Economic Forum.

 
 

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

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