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ERG Corporate ERG Africa ERG Brazil Sales portal

22 August 2023

ERG Enhances Financial Stability of the Group

ERG Enhances Financial Stability of the Group

Eurasian Resources Group (ERG) is proactively restructuring the loan portfolio of its entities in line with applicable laws and regulatory requirements. The comprehensive restructuring of loans with Sberbank of Russia PJSC has been conducted in full compliance with relevant regulations and with the necessary authorizations from the appropriate sanctioning authorities.

As a result of these efforts, the sustainability of ERG’s operations in Kazakhstan is bolstered amidst global instability. The terms of the existing loans have been modernized without incurring additional debt, ensuring a solid financial foundation.

“ERG remains committed to adhering to international and Kazakhstani laws, as well as the highest global standards in the mining and metals industry. We are dedicated to the well-being of our 60,000 employees and their families, fostering the prosperity of our cities and communities, and will continue to do so in alignment with our Development Strategy,” stated Mr. Serik Shakhazhanov, CEO of Eurasian Resources Group.