Chinese, Luxembourg firms sign cobalt production deal at BRI Forum

ERG has further developed its portfolio of assets both in the DRC and globally to produce high quality materials for the li-ion battery sector.

At Metalkol, ERG's flagship operation, the group has expanded the production capacity ten-fold in the last four years. ERG is also developing its another key asset in the DRC, which has some of the world's largest known copper and cobalt resources.

In this vein, the cobalt beneficiation facility, which ERG is building up with its Chinese partner BGRIMM, provides important addition to its portfolio of assets producing key battery materials as it should deliver high purity cobalt hydroxide tailored for the battery market.

It will further strengthen its position as a strategic supplier of traceable materials for the electric vehicle industry.

China accounted for around two-thirds of global sales of full EVs last year. According to the China Association of Automobile Manufacturers, 26.86 million vehicles were sold in 2022, with 6.89 million units being EVs. Sales of EVs almost doubled, surging by 93.4 percent year over year, thanks to cheap electricity and favorable government policy in China.