ASTANA – Eurasian Resources Group (ERG) in Africa and Enterprise Générale du Cobalt (EGC) have signed a memorandum of understanding (MoU) on the sidelines of the Mining Indaba on Feb. 10 in Cape Town.
Photo credit: ERG
This memorandum forms part of a public-private partnership intended to enhance the formalization, professionalization and accountability of artisanal and small-scale mining (ASM). It provides EGC with mining rights over an exploitation area owned by ERG Africa and located in Lualaba Province.
“The pilot project within the MoU aims to establish a structured model that will improve the working conditions of artisanal miners and reduce the risks associated with informal mining [including human rights risks]. It should strengthen social cohesion within surrounding mining communities, enhance environmental protection and ensure the traceability and security of the cobalt supply chain, in line with the vision of the Congolese Government,” reads the ERG’s statement.
ERG is a leading diversified natural resources group headquartered in Luxembourg, with integrated mining, processing, energy, logistics and marketing operations. The group employs around 67,000 people and sells its products in more than 40 countries. Its main shareholder, holding a 40% stake, is the government of Kazakhstan.
ERG is one of the world’s largest producers of cobalt and ferrochrome and a major international supplier of copper and iron ore. In Eurasia, it is a leading supplier of alumina and the only producer of high-grade aluminium in Kazakhstan.
