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
- Kazakhstan’s People’s Party Gets New Leader Ahead Of Kurultai Elections
- Kazakhstan To Check All Plastic Surgery Clinics After Patient Deaths
- Kazakhstan Proposes Extending Beef Export Limits For Another Six Months
- Almaty To Open Public Debate On Ecology In New Master Plan
- Kyrgyzstan Gasoline Shortage Raises Smuggling Risk For Kazakhstan
- Kazakhstan Meets Most Food Needs But Import Gaps Remain
- Kazakhstan May Require Younger Students To Hand In Smartphones During Classes
- Is Kazakhstan’s New Adilet Party Entering Atameken’s Field With Its Own Business Council?
- National Bank Says Digital Tenge Is Helping Kazakhstan Track Public Spending
- Kazakhstan Made New Tenge Bills Smaller To Fit Wallets And Cut Costs
- Kazakhstan Could Host One-Gigawatt AI Data Center From Singaporean Investor
- Kazakhstan Says Gas Supplies Are Stable After Karachaganak Output Cut
- Every Child in Kazakhstan Has Earned $370 From the National Fund
- UAE and Kazakhstan Sign Mutual Driver's License Recognition Deal
- Kazakhstan Updates Subsidies for Green Vehicle Producers
- West Kazakhstan To Spend Billions On Waste: What Will Change By 2030?
- EAEU May Extend Zero Fuel Duties as Russian Refineries Struggle
- Kazakhstan Bans Electric Scooters From Sidewalks
- Open Competition Now Required for Airport Commercial Space in Kazakhstan
- Kazakhstan Completes Key Drilling Stage for Caspian Underwater Internet Cable
