Eurasian Resources Group Partners with Mechema and Marubeni to Enhance Cobalt Supply for the Japanese Market

Eurasian Resources Group (ERG), a diversified natural resources group based in Luxembourg, has signed a Memorandum of Understanding with Taiwan-based Mechema Chemicals International Corp and Japan's Marubeni Corporation. This strategic partnership aims to explore opportunities in the cobalt supply chain, crucial for the burgeoning electric vehicle market in Japan and globally.

The collaboration will focus on the potential supply of up to 3,000 tonnes of cobalt hydroxide per annum, along with the production, sale, and marketing of cobalt sulfate. These efforts are in response to the increasing demand for cobalt, a key component in EV batteries, spurred by the global surge in EV adoption.

Under the MoU, Mechema will evaluate the feasibility of constructing a new cobalt refining plant, with cobalt hydroxide supplied by ERG's flagship operation, Metalkol, located in the Democratic Republic of the Congo (DRC). Marubeni will assess the potential for distributing the produced cobalt sulfate within the Japanese market, aiming to develop alternative supply routes for cobalt.

Metalkol's cobalt production is quality assured through the Clean Cobalt & Copper Framework and has been awarded the ISO 9001:2015 certification, recognizing its adherence to the highest standards of quality management in the production of copper cathode and cobalt hydroxide.