ERG Increases Investment in Kazakhstan
Resources Group (ERG), a Luxembourg-headquartered global metals and mining company, increased its investments in Kazakhstan to nearly $1 billion, according to the company.
The projected investment level represents an increase of about 40% compared to two to three years ago and nearly double ERG’s investment volumes in the pre-crisis period of 2018–2019.
“Our annual investment in Kazakhstan has grown substantially, and in 2025 it is projected to reach just under $1 billion – about 40% higher than two-three years ago. Compared with ERG’s investments in Kazakhstan in pre-crisis years (2018-2019), this represents almost a two-fold increase. Kazakhstan is ERG’s core, strategic region,” said Shukhrat Ibragimov, the CEO and Chair of the ERG Board of Directors.
The company revised its development strategy, shifting its focus from geographic expansion to strengthening operations in its core regions Kazakhstan and Africa.
“Maintaining control over and managing all key business assets in ERG’s core regions is our absolute priority. A few years ago ERG was expanding to countries beyond its long-term presence, to so-called new frontiers of growth. We have reconsidered that previous approach. The company’s focus as an industry leader shifted from expansion to sustainability,” added Ibragimov.
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