In light of recent media speculation over the past few weeks—including reports concerning a proposal from Mr James Cameron to acquire Eurasian Resources Group (ERG)—Mr Shukhrat Ibragimov, Chairman of the Board of Directors and CEO of ERG, has clarified that there are no ongoing negotiations regarding the sale of the company. Sole producer of high-grade aluminium in Kazakhstan, the group is also one of the major suppliers of copper and cobalt.
Mr Shukhrat Ibragimov affirmed that the company's leadership remains fully committed to ERG's long-term, sustainable growth. At the end of 2024, the Board of Directors approved a new strategic plan focused on advancing the Group's development and investing further in its operations, which the company is actively executing.
In Africa, ERG's copper operations are anchored by the Frontier mine in the Democratic Republic of the Congo (DRC), while Metalkol stands out as a flagship tailings reprocessing facility. Today, Metalkol ranks among the world's largest producers of cobalt and is a significant contributor to global copper supply. The Group's logistics arm, SABOT, manages and streamlines its supply chain operations across the continent.
Headquartered in Luxembourg, ERG is one of the world's leading and most diversified natural resources companies, with fully integrated operations that include energy, transportation, and marketing. With a presence in 20 countries across four continents, ERG is also among the largest employers in the industry.
In Kazakhstan, ERG operates a range of key production assets, including Kazchrome, the Sokolov-Sarbai Iron Ore Mining Production Association (SSGPO), Kazakhstan Aluminium Smelter, Aluminium of Kazakhstan, and Eurasian Energy Corporation. The Group also plays a critical role in the region as a major power supplier and one of Central Asia's largest railway operators.
ERG remains firmly focused on long-term growth and delivering value to all its stakeholders. With a workforce of around 67,000, the company is one of the largest employers in the sector. The Group operates across more than 40 countries spanning Asia, Europe, Africa, and the Americas.
The Government of the Republic of Kazakhstan is ERG's principal shareholder, holding a 40 per cent stake in the company. In 2024, Shukhrat Ibragimov was appointed CEO and Chairman of the Board, bringing extensive experience and leadership to guide the Group's strategic direction.
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