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[Ferro-Alloys.com] Eurasian Resources Group (ERG) has been exploring opportunities with strategic Chinese partners to cooperate on several big-ticket projects in a move to further grow its network in the country, its chairman said. ERG is an international metals and mining company.
Alexander Machkevitch, chairman of ERG, said there is significant potential for collaboration with Chinese companies on several projects worldwide.
ERG's collaboration with China has included co-financing, off-take agreements, EPC (engineering, procurement and construction) arrangements, and equity partnerships.
"They (Chinese enterprises) are much more professional, and have become really big international companies," Machkevitch said.
The energy sector is also promising as China consumes more than half of all commodities worldwide, he added. Demonstrating strong demand for ERG's products which include ferrochrome, copper, cobalt, iron ore and alumina, China accounts for more than 20 percent of the company's total sales volume, Machkevitch stated.
As new energy vehicle sales have been booming, global consumption of cobalt, a key element in the batteries of such vehicles, is estimated to exceed 30,000 tons in 2020, and China would consume about 45 percent of the metal, Lu Rixin, an analyst with Orient Securities, said in a research note. (China Daily)
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