Deal & Dispute Resolved
On 11 September 2025, Eurasian Resources Group (ERG) and the DRC’s state miner Gécamines signed a settlement agreement resolving a legal dispute over the Swanmines (Kalukundi) copper- cobalt project. The disagreement—raised in 2023—had led to arbitration proceedings under the International Chamber of Commerce (ICC) in Paris. Under the agreement, the parties committed to cooperate going forward, establishing a framework for the joint development of the project and expanding Gécamines’ participation in its operations.
Project Details & Strategic Importance
The Kalukundi (Swanmines) project is located in Katanga Province, DRC, and produces copper and cobalt—both vital minerals in the global energy transition. ERG currently holds about 75 % of the Swanmines venture, with Gécamines owning 25 %. The settlement is seen as crucial to unblocking delays that had stalled development, ensuring that the mine can move forward. With copper ore grades in Kalukundi among the higher quality in the region, the project is significant both for ERG’s portfolio and for the DRC’s domestic and export revenue streams.
Implications & Uncertainties
While the agreement restores clarity and paves the way for resumed development, many details still remain uncertain: timeline for production, extent of Gécamines’ increased role, financing, and environmental and community-engagement obligations have not been fully disclosed. Stakeholders are looking closely to see whether the DRC government will leverage the deal to maximize local benefits—jobs, royalties, and infrastructure while maintaining investor appeal. The resolution may also serve as a model for how state mining companies and foreign/foreign-affiliate partners can settle disputes and refocus on development rather than litigation.