Eurasian Resources Group to Double Copper and Cobalt Production in DRC and Zambia with $1.8B Investment
Eurasian Resources Group (ERG), a Kazakh company registered in Luxembourg, plans to invest US$1.8 billion in the development of its mines in the DRC.
According to the words of the Managing Director of this company, Benedikt Sobotta, the company intends to develop the minerals produced in the Democratic Republic of Congo (DRC).
ERG thus envisages significant production of copper and cobalt in this year 2023, with a focus on its mining operations in the Democratic Republic of Congo as well as in Zambia.
“Regions like the DRC that produce the materials for electronics and electric vehicles should see an increased value of their mineral reserves,” said Benedikt Sobokta.
ERG has been reorganizing its portfolio since 2016. Its growth plans towards energy transition materials should also be reorganized.
ERG Group plans to invest not less than 1.8 billion dollars over the next five years to double its production of copper and cobalt in the DRC and Zambia, in order to meet the demand for metals for the expected increase in the production of electric vehicles.
“We strongly believe that for the world to reach its ambitious net zero goals, we need to explore where the geology takes us, rather than where it suits us. Therefore, we follow a mineral system approach in selecting countries to explore. We are particularly excited about the opportunities in the Arabian and Nubian Shield, Africa and Southeast Asia,” added Benedikt Sobokta.
As a reminder, Eurasian Resources Group (ERG) is one of the largest diversified natural resources companies. It has a portfolio of assets and development projects in more than 16 countries on four continents. It is represented by more than 80,000 employees worldwide, making it one of the largest job providers in this sector.
