Eurasian Resources Group (ERG) has inked a deal with China’s BGRIMM Technology Group to construct a cobalt beneficiation facility in the Democratic Republic of Congo (DRC).
The facility, set to process material from ERG’s Metalkol mine, is expected to be operational by the end of 2024.
This partnership was established during the third Belt and Road Summit Cooperation Forum in Beijing on October 17.
ERG CEO Benedikt Sobotka emphasized the significance of this venture for the critical mineral mining industry and green energy transition.
The facility will boost investment in cobalt beneficiation in the DRC, improve local infrastructure, and bring economic benefits to the region.
Metalkol, ERG’s flagship operation, has witnessed a tenfold increase in production capacity over the past four years.
ERG is also focusing on Comide, a key asset in the DRC with substantial copper and cobalt resources. The cobalt beneficiation facility will play a crucial role in ERG’s portfolio by producing high-purity cobalt hydroxide tailored for the battery market, reinforcing the group’s position as a trusted supplier of materials for the electric vehicle industry.
ERG is committed to investing an additional $2 billion in the DRC over the next two years.
