ERG’s Metalkol RTR releases its Clean Cobalt & Copper Performance Report 2022, assured by independent auditors, PwC

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Eurasian Resources Group (“ERG” or “the Group”), a leading diversified natural resources group headquartered in Luxembourg, releases its Clean Cobalt & Copper Performance Report 2022, which has been assured by independent auditors, PricewaterhouseCoopers (PwC). The report details the Group’s progress in relation to its Clean Cobalt & Copper Framework (‘Framework’), which implements the globally recognised supply chain guidance of the OECD but also goes further in leading the industry towards more sustainable value chains.

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18/07/2022 |
  • Metalkol RTR - ERG's cobalt and copper tailings reprocessing facility the world's second largest standalone cobalt producer

The Framework was first introduced in 2019 as the Clean Cobalt Framework and was extended to include copper in 2021. It aims to deliver high levels of responsible cobalt and copper production, value chain assurance, and improved living conditions for local communities. The framework comprises seven goals:

  • Compliance with the OECD Due Diligence Guidance for Responsible Mineral Supply Chains from Conflict-Affected and High-Risk Areas
  • Clean cobalt and copper are sourced without child labour
  • Clean cobalt and copper are traceable
  • Clean cobalt and copper are not sourced from artisanal and small-scale mining
  • Restoring the environment
  • Collaborating to promote sustainable development
  • Leading our industry towards more sustainable cobalt and copper value chains

The report illustrates how these goals are being met at Metalkol RTR and how its operations are being carried out according to international supply chain standards. It showcases that Metalkol RTR is managing social and environmental impacts and contributing to community development. The Performance Report has the specific references to which initiatives Metalkol participates in and which are through ERG.

Benedikt Sobotka, CEO of ERG, said, “As the world’s second largest producer of cobalt and a large producer of copper, Metalkol RTR is providing significant support in the transition to a lowcarbon economy. This comes with a duty to implement and promote responsible sourcing and long-term, sustainable development. The second performance report – again assured by independent auditors – shows that this is exactly what we are doing at ERG, regardless of the complexities of the task, which have been compounded by the challenges of the last two years. I would like to thank the whole team for their dedicated efforts towards this great achievement.”

This is the follow up report on the Framework’s implementation and is the first since the inaugural report, which was released in 2019. The two-year gap is a result of unavoidable delays to the assessment that forms the basis of the report, including on-site visits by external auditors, due to the COVID-19 pandemic. ERG intends to provide annual assurances against the Framework going forward, and has also committed to the Responsible Minerals Assurance Process (RMAP) of the Responsible Minerals Initiative.

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