Eurasian Resources Group (“ERG” or “The Group”), a leading diversified natural resources group headquartered in Luxembourg, announces that the Responsible Minerals Initiative (“RMI”) has confirmed that the cobalt and copper produced by ERG’s Metalkol RTR is compliant with the RMI’s Responsible Sourcing requirements. This follows an independent assessment as part of RMI’s flagship programme, the Responsible Mineral Assurance Process (“RMAP”).
In August 2022, the RMI confirmed that Metalkol RTR was conformant with the Assessment Standard for Cobalt Due Diligence Standard (2018) and Joint Due Diligence Standard for Copper, Lead, Nickel and Zinc (2021). The comprehensive assessment consisted of a number of elements including the collection and review of objective evidence such as interviews with employees and the senior management, documentation, a facility walk-through, and other observations. All of this demonstrated that Metalkol RTR’s due diligence management system conforms in all aspects to the requirements of the RMI’s standards.
Benedikt Sobotka, CEO of ERG, said, “Metalkol RTR and ERG as a whole not only support the transition to a greener economy through our supply of key metals, such as copper and cobalt, but also set an example to the industry through our commitment to responsible sourcing. Confirmation of this by the RMI is just another reason that the companies buying our cobalt and copper, and consumers who purchase products that contain them, can be confident that they have been produced in line with global responsible sourcing standards. I would like to congratulate the Metalkol RTR team for this latest achievement, and thank them for their hard work in the lead up to it.”
Gillian Davidson, Sustainability Advisor to ERG’s CEO, said, “Metalkol RTR has established itself as a world-leading supplier of responsibly sourced cobalt and copper, thanks to the rigorous management systems and procedures the Group has in place to ensure it operates in accordance with international standards and conducts its business in a responsible manner. The announcement that the cobalt and copper produced at Metalkol RTR are compliant with the RMI’s Responsible Sourcing requirements is testament to this, and Metalkol RTR is well-placed to continue supplying responsibly produced materials to meet the demands of the clean energy transition.”
The RMI is one of the most utilised and respected sources for companies from a range of industries addressing responsible sourcing issues in their supply chains. The aim of the RMAP is to help companies make informed choices about responsibly sourced minerals in their supply chain, and show that their standards have been developed to meet the requirements of the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, the Regulation (EU) 2017/821 of the European Parliament and the US Dodd-Frank Wall Street Reform and Consumer Protection Act.