Eurasian Resources Group refutes negotiations to sell the Company

LUXEMBOURG, April 21, 2025 (GLOBE NEWSWIRE) — In response to a number of media speculations in the course of the last few weeks, including publications about a Mr James Cameron’s proposal to buy Eurasian Resources Group (ERG), Mr Shukhrat Ibragimov, Chairman of the ERG Board of Directors and its Chief Executive Officer, stated there are no negotiations on the sale of ERG.

He said the company’s management is fully committed to further consistent, sustainable development of the Group.

There are no changes to business as usual.

At the end of 2024, the Board of Directors adopted a new Strategy aimed at further development and investment in ERG’s enterprises and the Company has been implementing it.

ERG’s focus on long-term growth and creating value for all stakeholders of the Group remains unchanged.

About Eurasian Resources Group

Eurasian Resources Group (ERG) is a global metals and mining company headquartered in Luxembourg. ERG has around 67,000 employees and is one of the largest employers in the industry. It sells products in more than 40 countries across Asia, Europe, Africa, and the Americas.

The Group’s main shareholder (40% stake) is the Government of the Republic of Kazakhstan. ERG’s CEO and Chairman of the Board is Shukhrat Ibragimov, who was appointed in 2024 and brings with him many years of industry experience.

With integrated mining, processing, energy, logistics, and marketing operations, ERG is one of the world’s largest producers of ferrochrome and cobalt and a leading international supplier of copper and iron ore. It is also a large supplier of alumina and aluminium in Eurasia.

In Kazakhstan, the Group operates multiple production entities, including Kazchrome, Sokolov-Sarbai Iron Ore Mining Production Association (SSGPO), Kazakhstan Aluminium Smelter, Aluminium of Kazakhstan, and Eurasian Energy Corporation. ERG is a key power supplier and a large railway operator in Central Asia.

In Africa, Frontier is the cornerstone of the Group’s copper business in the DRC, while Metalkol represents a major tailings reprocessing operation. Metalkol has become one of the world’s largest producers of cobalt and a major producer of copper. The Group manages its own supply chain through its logistics company, SABOT. 

For further information:

press@erg.net

www.eurasianresources.lu

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/1522eb57-7586-436d-a390-5eb5b68255ac