ERG Signs Accord with Gecamines — Bloomberg
Photo: Eurasian Resources Group
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
Latest news
- Nazarbayev-Linked Villa in Spain Agrees to Fund New Coastal Path
- Why Kazakhstan Is Restricting Foreign Goods in Public Procurement
- Kazakhstan Has the Lowest Level of Dependence on China in Central Asia
- Noise, Construction and Cameras: What Astana Residents Are Saying About the LRT Tests
- Marshrutka vs. Shuttle: Why Kazakhstan Is Reinventing the Main Public Transport of the 1990s
- Several Border Checkpoints With China to Close for One Day
- Laser Guidance Systems Begin Testing on Kazakhstan’s Highways
- Kazakhstan Plans Mandatory Labeling for Dietary Supplements and Jewelry
- Chinese Influencer Tao Mingxiu Receives Presidential Award in Kazakhstan
- Kazakhstan Ranks Sixth In the World By Agricultural Land Area
- Uzbekistan Breaks Regional Record In Public Debt Market
- “They Are Not Cattle, You Don’t Vaccinate Them”: Why Zoologists Cannot Save Caspian Seals
- Did The Digital Economy Stumble Over PPP? How The Minister Reacted to the IT Industry’s Problems
- Private Investors to Help Build Juvenile Correctional Facilities in Kazakhstan
- “Like Rotten Eggs”: Residents of Atyrau Again Complain About the Stench in the City
- Digital Passport and Admission Benefits: Kazakhstan Wants to Change Volunteering
- Infected Sunflower Seeds From the U.S. Barred From Entering Kazakhstan
- Almaty Drivers Offered Free Emissions Checks Without Penalties
- Croatia Will Finance Oil Exploration In Aktobe Region
- Half of Kazakhstanis Earn Less Than $1,000 a Month
