ERG Signs Accord with Gecamines — Bloomberg

Eurasian Resources Group (ERG) has signed an agreement with the Democratic Republic of Congo’s state-owned mining company Gecamines, marking a step toward resolving a protracted dispute over resource extraction in Africa, Orda.kz reports.

According to Bloomberg, the deal was concluded during Congolese President Félix Tshisekedi’s visit to Astana. The agreement was not mentioned in Aqorda’s official communications on the trip, and while the DRC presidency briefly acknowledged it, neither ERG nor Gecamines have commented publicly.

ERG, registered in Luxembourg and 40% owned by the Kazakh government, operates the Metalkol hydrometallurgical plant in the DRC through a subsidiary, producing copper and cobalt used in battery manufacturing.

For years, disagreements with Gecamines over permits and joint ventures have hindered development at major deposits. In 2023, Gecamines cancelled a planned joint project at the Kalukundi mine and sought to buy out some ERG assets, pushing the conflict into international arbitration.

During the Astana visit, Congolese Mines Minister Louis Watum also signed a separate cooperation agreement with Kazakhstan’s Minister of Industry and Construction, Yersain Nagaspayev, covering geological and mining development.

It remains unclear whether this document addresses the ERG-Gecamines standoff.

Original Author: Nikita Drobny