Eurasian Resources Group, a leading diversified natural resources group headquartered in Luxembourg, is pleased to announce the release of its fourth Metalkol Clean Cobalt & Copper Performance Report for 2024. The report, independently assured by auditors PwC, reports on Metalkol’s progress, approach, and performance across areas of responsible mining and due diligence in relation to its Clean Cobalt & Copper Framework (“Framework’).

The report highlights four key achievements:

• Metalkol has continued to successfully implement processes and controls for its cobalt and copper production in line with the principles and goals stated in the Clean Cobalt & Copper Framework and in accordance with the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas.
• Metalkol has in place processes and controls to implement a chain of custody, which allows its product to be tracked and traced.
• Metalkol has in place processes and controls to prevent the risk of child labour or any artisanal-sourced ore in its operation
• Metalkol has managed social and environmental impacts, contributed to community development, and supported industry initiatives on an international level.

The Clean Cobalt & Copper Framework, first released in 2018 as the Clean Cobalt Framework and extended to include copper in 2021, comprises seven commitments that ERG makes to its stakeholders. These commitments are achieved through a set of management systems, processes, controls, and investments designed to comply with and go beyond OECD guidance and leads the industry towards more sustainable value chains.

The seven goals of the Framework include Metalkol’s commitment to:

1. Complying with the OECD Due Diligence Guidance
2. Sourcing clean cobalt and copper without child labour
3. Ensuring clean cobalt and copper are traceable
4. Not sourcing from artisanal and small-scale mining
5. Restoring the environment
6. Collaborating to promote sustainable development
7. Leading the industry towards more sustainable cobalt and copper value chains

“The release of the fourth Metalkol Clean Cobalt & Copper Performance Report highlights our ongoing commitment to responsible mining and sustainable practices. We are proud of the progress we have made in enhancing our processes and controls, ensuring that our products are not only compliant with global standards but also contribute positively to the communities and environments in which we operate. Our dedication to transparency and continuous improvement is reflected in this report, and we remain committed to leading the industry towards more sustainable value chains,” said Benedikt Sobotka, CEO of ERG.