ERG bullish on market prospects

Eurasian Resources Group, the international metals and mining company, said it is bullish on its prospects in the China market, given the explosive growth of electric vehicles, which is expected to boost demand for metals like lithium, cobalt, copper and nickel.

Benedikt Sobotka, chief executive officer of ERG, said: "We believe the cobalt market still has a fantastic potential. We expect to see a strong primary uptrend in the next few years as China is currently the world's biggest importer for raw cobalt products."

ERG is well positioned to become one of the largest suppliers of cobalt to China starting from next year. An expected 80 to 90 percent of the company's cobalt output will be sold to China around 2025 compared with about 40 percent now, he said.