Eurasian Resources Group to supply cobalt to Japanese market

The agreement will explore a potential transaction involving the supply and refining of cobalt hydroxide, and the sale, distribution, and marketing of cobalt sulfate.

Under the MoU, ERG, Mechema and Marubeni will explore potential cooperation opportunities to develop an alternative cobalt supply chain for the Japanese market. Specifically, Mechema will conduct a feasibility study into the construction of a new cobalt refining plant, supplied by cobalt hydroxide produced by ERG, while Marubeni will study the ability to place produced cobalt sulfate in the Japanese market.

Under the auspices of the Parties’ agreement, ERG desires to supply cobalt hydroxide from ERG’s flagship operation, Metalkol, in the Democratic Republic of the Congo (DRC), to potential customers in the Japanese market. Cobalt produced at Metalkol is quality assured by the Clean Cobalt & Copper Framework, underwritten by independent auditors PwC. In October 2023, Metalkol achieved ISO 9001:2015 certification for copper cathode and cobalt hydroxide production – globally recognised as the most comprehensive quality management system (QMS).

Benedikt Sobotka, CEO of ERG and Co-Chair of the Global Battery Alliance, said: “The signing of this MoU underscores ERG’s role as a global cobalt player and our willingness to have a strategic presence in all key battery materials supply chains. Japan is one of the leaders in the production of battery materials and clean energy technologies, and the supply of cobalt to its market by ERG will support the green energy transition and the global agenda to reach net zero by 2050. We look forward at ERG to working with Marubeni and Mechema on this new opportunity”.

Read the article online at: https://www.globalminingreview.com/mining/09042024/eurasian-resources-group-to-supply-cobalt-to-japanese-market/