Eurasian Resources Group acquires Manganese Zhairema JSC
Eurasian Resources Group (“ERG” or “the Group”), a leading diversified natural resources group headquartered in Luxembourg and the world’s largest high-carbon ferrochrome producer by chrome content, has signed an agreement to acquire Manganese Zhairema JSC, a company whose main business operations involve mining and processing manganese ore.
The enterprise has great potential to support ERG’s strategic goals in the ferroalloys markets. Kazchrome, ERG’s ferroalloys subsidiary in Kazakhstan, has recently been awarded the Responsible Chromium award by the International Chromium Development Association, as well as a Silver Award by the independent agency EcoVadis.
After staffing production facilities at Manganese Zhairema JSC and restructuring the site’s key assets, communications services and infrastructure, ERG plans to bring the facility to its maximum ore mining capacity, and in the long term, further process this into manganese concentrate. Around 350 jobs will be created at the enterprise.
Benedikt Sobotka, CEO of ERG, said: “Manganese Zhayrema JSC is an attractive manganese asset, and this acquisition reflects ERG’s overall focus on making our business more vertically integrated, developing our raw materials base and further increasing the efficiency of our ferroalloys division. We plan to fully integrate this enterprise into the Group, including through the implementation of the ERG Way Production System, whilst following responsible supply practices across the value chain and meeting high ESG standards.”
Communiqués liés
Apex Group to administer first of a kind climate fund to boo...
Leading financial services provider Apex Group has been appointed as the Alterna...
L’Union Bancaire Privée signe deux accords exclusifs en v...
L’Union Bancaire Privée, UBP SA (UBP) annonce ce jour avoir conclu deux accor...
Allianz Life Luxembourg annonce son déménagement
Allianz Life Luxembourg, Hub européen d’expertise patrimoniale du groupe Alli...
Apex Group support Japan’s growing private equity sector w...
Apex Group, a leading supplier of global financial services, today announces fur...
ERG continues to diversify its cobalt sales, signs agreement...
Up to 15kt of sustainably produced cobalt, or around 75% of ERG’s Metalkol vol...
Banque Raiffeisen passe le cap des 50 000 membres
Seule banque coopérative du Luxembourg, Banque Raiffeisen est fière d’annonc...
Il n'y a aucun résultat pour votre recherche