ERG Mulls Selling Mozambican Assets, Reviewing Congo Permits
- Miner is also assessing South African and Zimbabwean assets
- Revamp comes as cobalt prices remain depressed due to glut
A conveyor belt carries chunks of raw cobalt at a plant in Lubumbashi, the Democratic Republic of Congo.
Photographer: Samir Tounsi/AFP/Getty ImagesThis article is for subscribers only.
Kazakhstan-backed Eurasian Resources Group plans to review some of its mining permits in the Democratic Republic of Congo and is considering selling assets in Mozambique as part of a revamp, the chief executive officer of its Africa unit said.
The overhaul is aimed at reducing costs at the cobalt and chrome producer, Nicolas Treand told Bloomberg TV in an interview at the Mining Indaba in Cape Town on Monday.