Eurasian Resources Group (ERG), a diversified natural resources conglomerate, and BGRIMM Technology Group of China have reached a contract on the development of a cobalt beneficiation facility in the Democratic Republic of the Congo (DRC).
Mining Weekly reports that it is anticipated that by the end of 2024, this plant, which will process materials supplied by ERG's Metalkol mine in the DRC, will be operational.
The deal with BGRIMM was formally endorsed during the third Belt and Road Summit Cooperation Forum.
The collaboration between ERG and BGRIMM to construct a cobalt beneficiation facility of superior quality is an imperative development for the green energy transition and the vital mineral mining and processing sector.
“It is very exciting to help increase the overall investment in cobalt beneficiation in the DRC. This will also lead to further improvement of infrastructure and bring many benefits for local communities in the country, which is a vital region for metals and mining and a key building block for the cobalt industry,” said ERG chief executive Benedikt Sobotka.
The manufacturing capacity at Metalkol, the principal business of ERG, has experienced a tenfold increase during the past four years.
Comide, an additional significant asset being developed by ERG in the DRC, is purported to contain some of the most extensive copper and cobalt deposits in the world.
Consequently, the cobalt beneficiation facility that ERG and BGRIMM are constructing is anticipated to be a significant asset addition to the company's portfolio, as it should provide battery-specific, high-purity cobalt hydroxide.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
