Kazakhstan-based Eurasian Resources Group (ERG) has announced that it has signed a strategic agreement with Russian steelmaker MMK for the supply of iron ore. According to the agreement, ERG’s subsidiary Sokolov-Sarbai Mining Production Association (SSGPO) will supply more than 30 million mt of iron ore, including pellets and concentrate, to MMK until the end of 2020.
ERG stated that the agreement marks a new step for the company in the implementation of its sustainable development strategy, aimed at improving the performance of individual entities. The agreement will generate long-term demand for iron ore products and enable the setting of more ambitious sales targets for SSGPO, a major enterprise not only for the Kostanay region but for Kazakhstan as a whole.