Eurasian Resources Group signs memoranda of understanding with leading global companies from Japan
During a business forum at the “Central Asia plus Japan Dialogue”, Eurasian Resources Group (ERG), a leading diversified natural resources group headquartered in Luxembourg, signed memoranda of understanding (“MoUs”) with major Japanese businesses. The first MoU was signed with HITACHI Construction Machinery, a global producer of construction and mining equipment, and its official distributor in Central Asia, Eurasian Machinery LLP. The second MoU was signed with Mitsui & Co.
Under the first MoU, HITACHI Construction Machinery will supply ERG with modified electric EH4000 mining dump trucks to operate at the Kacharsky mine in Kazakhstan. The MoU will be facilitated by HITACHI’s regional distribution partner, Eurasian Machinery, and it will support the development of ESG-focused construction practices across ERG’s global operations. The MoU was signed by the Chairman of ERG’s Board of Directors, Shukhrat Ibragimov, the CEO of Eurasian Machinery, Mehmet Kemal Cetinelli, and the President of Hitachi Construction Machinery Co, Masafumi Senzaki.
Cooperation with major industry players for the development of the Kacharsky mine will enable ERG to achieve its environmental management goals. The MoU will enable Hitachi’s EH4000 mining dump trucks to run on electricity. The electrification of ERG’s truck fleet will substantially reduce local carbon emissions at the Kacharsky mine site. The company will also undertake a long-term contract for a full range of services, including the development of servicing infrastructure, and the supply of spare parts and large components.
To further improve economic and environmental performance, the partners have outlined plans to conduct joint feasibility studies, to support the full electrification of ERG’s mining fleet.
The second MoU is between ERG and Mitsui & Co. ERG intends to upgrade up to 30% of its truck fleet by purchasing Komatsu equipment through KOMEK Machinery Kazakhstan LLP. The MoU also envisages collaboration to achieve ‘green’ ferrochrome production targets. Mitsui plans to conduct a feasibility study for a potential wind power development project for ERG.
Commenting on the signed MoUs, Chairman of ERG’s Board of Directors, Shukhrat Ibragimov, said: “International cooperation on this scale will give new impetus to the development of our company in line with the ESG agenda. We aim to not only improve our business practices, but to ensure that our businesses are in line with the highest global standards. The priority is to ensure smooth operations and achieve production targets while complying fully with safety rules and operating in a responsible manner. We are convinced that this will be reflected in the quality of our products while contributing to the development of Kazakhstan’s economy.”
