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
- Part of Shymkent’s 3-Billion-Tenge Dam Destroyed One Month After Completion
- Putin to Visit Kazakhstan in Late May at Tokayev’s Invitation
- Clean Air for Almaty: Coal Power to Be Moved to Pavlodar Region
- Burger King Employee With Autism Allegedly Pressured to Resign After Management Change
- Bagdat Musin Explains Why KazLLM Is Not «Kazakhstan’s ChatGPT»
- Military Convoys in Three Kazakh Cities — What the Defense Ministry Says
- Kazakhstan Takes Two Golds at Artistic Swimming World Cup Stage in Medellín
- 2,500 Participants from 22 Countries: Almaty Opens the Running Season
- Snow and Frost: Weather Forecast for February 15
- Tokayev congratulates Serbia’s President Vucic on Statehood Day
- Mikhail Shaidorov Wins Kazakhstan’s First Winter Olympic Gold Since 1994
- Indian Crested Porcupines Spotted by Camera Trap in Ile-Alatau National Park
- Kazakhstan’s Air Pollution Isn’t Driven by Factories — Ministry of Ecology
- How the US Views Kazakhstan’s Constitutional Reform and Free Speech
- US Ambassador to Kazakhstan: Visa Restrictions for Kazakhstanis Are a Temporary Measure
- China-to-Russia Shipments Are Increasingly Bypassing Kazakhstan
- Shokan Ualikhanov Private School Reclassified as Large Business After Staff Tops 250
- Former Priest Yakov Vorontsov Reportedly Detained in Kazakhstan
- Kazakhstan Proposes Differentiated Toll Rates for Transit Foreign Drivers
- World Bank Ready to Provide Kazakhstan Up to $1 Billion a Year for Six Years
