HomeBase MetalsChina to acquire Eurasian Resources Group's Frontier mine copper concentrate

China to acquire Eurasian Resources Group’s Frontier mine copper concentrate

The agreement is with China Nonferrous Metal Industry’s Foreign Engineering and Construction Co., Ltd. (NFC).

Under the agreement, Frontier mine – a large producer of high grade, high sulphur copper concentrate in the DRC – will supply an annual amount of at least 175 000 of dry metric tons copper sulphide concentrates produced to be processed at CCS in Zambia, a company owned by CNMC (NFC Group) and Yunnan Copper.

[quote]Ultimately, NFC may purchase up to 100% of Frontier’s third party volume to support both groups’ growth ambitions in Africa.

Benedikt Sobotka, CEO of Eurasian Resources Group, saiys: “We are very pleased to further develop and extend our long term cooperation with NFC, who have been a key strategic partner in many countries that we operate in. This agreement represents a major milestone for both parties and underpins our joint development plans on the continent.”

Qin Junman, Vice President, NFC, says: “NFC has ambitious growth plans in our international projects and trading business and ERG has become an important partner in achieving our objectives in Africa and Central Asia as an integral part of China’s New Silk Road Initiative.”