Russian Sanctions Push ERG to Consider Pivot Toward Green Iron
- Kazakhstan’s ERG weighs project supplying Chinese steelmakers
- New HBI plant would pose challenge to Russia’s Metalloinvest
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Kazakhstan’s Eurasian Resources Group is considering producing a feedstock for low-carbon steel production, after sanctions blocked its iron-ore shipments to Russia.
Luxembourg-registered ERG halted sales to its biggest customer, Magnitogorsk Iron & Steel Works PJSC, after the US imposed sanctions on the Russian company last year. That prompted ERG — 40% owned by the Kazakh state — to weigh building a hot briquetted iron plant to supply electric-arc furnaces making low-carbon steel.