Eurasian Resources Group (ERG), a diversified natural resources group, has signed an agreement with BGRIMM Technology Group, a leading institute in mineral and material industries, to help deliver a high-quality cobalt beneficiation facility in the DRC
ERG is aiming to develop its portfolio of assets in the country to produce high-quality materials for the li-ion battery sector. In pursuit of this, it has expanded production capacity at Metalkol (its flagship operation in the country) ten-fold in the last four years and is also developing another key asset: COMIDE, which boasts some of the world’s largest known copper and cobalt resources.
The cobalt beneficiation facility, with a total investment of US$250mn, is a continuation of this goal and will provide an important addition to the company’s portfolio of assets producing key battery materials. Currently being built in the country with commissioning planned for end of 2024, the facility will deliver high purity cobalt hydroxide tailored for the battery market and should further strengthen ERG’s position as a strategic supplier of traceable materials for the electric vehicle industry.
Benedikt Sobotka, CEO of ERG, remarked, “ERG has been attending the BRI Forum every year since its inception, because we know it is where some of the most important decisions for the global industry are made. It is no different this time: ERG’s agreement with BGRIMM to build a high-quality cobalt beneficiation facility is much needed for critical mineral mining and processing industry and for the green energy transition.
“It is very exciting to help increase the overall investment in cobalt beneficiation in the DRC. This will also lead to further improvement of infrastructure and bring many benefits for local communities in the country, which is a vital region for metals and mining and a key building block for the cobalt industry.”
