Shukhrat Ibragimov heads Eurasian Resources Group
ASTANA. Oct 2 (Interfax) - Shukhrat Ibragimov has been appointed CEO of Eurasian Resources Group (ERG), the company said.
Shukhrat Ibragimov is the son of the late co-founder of ERG, Alidzhan Ibragimov.
He takes over from Benedikt Sobotka, under whose leadership the company launched the Metalkol RTR project in the Democratic Republic of Congo and developed the Pedra de Ferro - FIOL - Porto Sul project, which focuses on creating integrated mining, railway, and port infrastructure in Brazil.
"Sobotka worked passionately in this role for over a decade and, having facilitated the necessary transition of management, will remain in contact with the ERG team. Shukhrat Ibragimov, who previously served as the First Deputy CEO, ensures the necessary continuity," stated the ERG press release.
The new board of directors now includes Shukhrat Ibragimov, Sabir Shodiyev (son of ERG co-founder Patokh Shodiyev) and Eduard Surlevich. Representatives of the Kazakh government, including Deputy Prime Minister Serik Jumangarin and Finance Minister Madi Takiyev, will continue to serve as board members, according to the company's website.
Shukhrat Ibragimov was previously chairman of the supervisory board of ERG's managing company in Kazakhstan. He is also a member of the board of directors of ERG S.a r.l. and serves as its chairman.
Established in 2014 from the assets of Eurasian National Resources Corporation (ENRC), ERG is registered in Luxembourg. The company encompasses ferroalloy, iron ore, aluminum, coal, and power generation operations in Kazakhstan, while also controlling copper and cobalt assets in Africa and carrying out an iron ore mining project in Brazil.
ERG's major assets in Kazakhstan include Kazchrome, the Sokolov-Sarbai Mining Production Association (SSGPO), Aluminium of Kazakhstan, the Kazakhstan Aluminium Smelter, Eurasian Energy Corporation, Shubarkol Komir and TransCom.
The shareholders of ERG are the Kazakh Finance Ministry (40%), Alexander Mashkevich and the Ibragimov family (20.7% each), and Patokh Shodiyev (18.6%), ERG's press service told Interfax.