Troilus Gold brings potential funding from ECAs to $1.3 billion
The company has signed an additional LOI with Export Development Canada worth $300 million.
Eurasian Resources Group announced that Metalkol RTR, its hydro-metallurgical copper and cobalt facility in the Democratic Republic of Congo, has committed to undergoing the Responsible Minerals Assurance Process, a flagship program of the Responsible Minerals Initiative.
Known as RMAP, the Process was developed to meet the requirements of the OECD Due Diligence Guidance, the Regulation (EU) 2017/821 of the European Parliament and the U.S. Dodd-Frank Wall Street Reform and Consumer Protection Act.
The RMAP uses an independent third-party, risk-based assessment of smelter/refiner management systems and sourcing practices
It uses an independent third-party, risk-based assessment of smelter/refiner management systems and sourcing practices to validate conformance with standards related to responsibly sourced minerals in companies’ supply chains.
“Cobalt’s role in the world economy is only set to increase as it is a key ingredient in lithium-ion batteries for electric vehicles and energy storage which will power the green recovery,” Benedikt Sobotka, CEO of Eurasian Resources Group, said in a media statement.
“It is vital that the cobalt in these products is sourced responsibly and sustainably, and we have committed to this through our Clean Cobalt Framework, the Cobalt Industry Responsible Assessment Framework and the RMAP.”
Prior to this commitment, the Luxembourg-based miner joined forces with international development organization Pact to implement the initiative “Children out of Mining-Northern Kolwezi.”
Congo’s Kolwezi region hosts the Metalkol RTR operation, and the company has made it a point of honour to promote responsible and sustainable cobalt production in this area.
