Eurasian Resources Group Reports 64% Profit Growth in 2025

On Thursday 16 April 2026, Luxembourg-headquartered mining company Eurasian Resources Group (ERG) reported improved financial performance in 2025, despite a challenging macroeconomic and geopolitical environment.

ERG reported that its corrected net profit (excluding non-cash accounting adjustments) reached $0.45 billion (€0.41 billion) in 2025, representing a 64% increase year-on-year (2024: $0.27 billion). Net profit under IFRS stood at $0.22 billion (€0.20 billion).

ERG reported that its underlying EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortisation) reached $2.1 billion (€1.9 billion) in 2025, up more than 12% year-on-year (2024: $1.87 billion). The company attributed this performance to continued cost discipline and ongoing improvements in operational efficiency, which helped offset external pressures and a slight decline in revenues. ERG also highlighted reductions in production unit costs across key products and reported cash cost savings of approximately $260 million (€240 million) during the year.

ERG reported that its operations in Kazakhstan generated $1.6 billion (€1.5 billion), accounting for more than three quarters of the Group’s EBITDA. ERG Africa contributed over $0.5 billion (€0.46 billion), or around 24% of total EBITDA, more than doubling its 2024 level.

Group revenues totalled $6.2 billion (€5.7 billion) in 2025, down 2.5% year-on-year (2024: $6.35 billion), reflecting ongoing market pressures and supply chain constraints. The company noted that it continued to operate in a complex pricing environment, including the impact of the cobalt export ban in the Democratic Republic of Congo.

ERG also reported an EBITDA margin of 34%, up from 29% in 2024, marking a third consecutive year of improvement.

The Group added that its 2024 net loss of $1.01 billion was largely due to non-cash accounting items, primarily related to asset and liability revaluations, and did not reflect underlying business performance.

Net cash generated from operating activities, after working capital, interest and tax, amounted to $1.18 billion (€1.09 billion), broadly in line with 2024 levels ($1.24 billion), despite continued macroeconomic pressures.