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.
Eurasian Resources Group completes the construction of two new bauxite mines
Eurasian Resources Group signs an agreement on the reduction of loan interest rates with Sberbank of Russia
Eurasian Resources Group acquires a controlling stake in JSC 3-Energoortalyk, which owns a thermal power plant in Kazakhstan
Kazchrome achieves record-high chrome ore output and ferroalloys production in 2017; highlights sustainable development achievements
Eurasian Resources Group upgraded to ‘B’ by S&P following stronger results; outlook positive
Eurasian Resources Group launches a Smart Mine for its iron ore production complex in Kazakhstan
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
Eurasian Resources Group improves the terms of agreement with the Eurasian Development Bank for financing for iron ore supplies
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
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
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
Eurasian Resources Group starts mining at a new chrome deposit in Kazakhstan with reserves exceeding 3 Mt of ore
Eurasian Resources Group launches an initiative to support student entrepreneurship
Eurasian Resources Group agrees with VTB Bank to restructure its debt
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
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
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
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
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
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
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
Eurasian Resources Group starts to manufacturing blooms at its SSGPO plant
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).
ERG highlights the importance of Africa in its long-term international growth strategy at the recent Mining Indaba in Cape Town.
ERG actively participates in the World Economic Forum Annual Meeting in Davos.
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.
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.
ERG becomes an Industry Partner of the World Economic Forum.
Signed agreements with Sberbank of Russia and VTB Bank to principally extend the schedule of payments on Group liabilities until 2021.
Disposal of the Serov ferroalloys plant and its affiliated companies.
Disposal of shares in Northam Platinum.
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.
Disposal of Zhairemsky GOK.
Extended maturity for one of its loan facilities with Russian Commercial Bank Ltd (part of the VTB group).
Signed a new loan agreement with Development Bank of Kazakhstan.
Entered into an amendment to extend the maturity for an existing loan facility with Sberbank of Russia.
Disposal of the Serov ferroalloys plant and its affiliated companies.
Disposal of the slag dump at Chambishi.
Launched a comprehensive transformation programme.