PRESS RELEASE: The contract was signed by the Société Nationale d'Électricité (SNEL), the national electricity company of the DRC, with power supply of 41MW to be sourced from ZESCO, the national electricity company of Zambia; and Rawbank, a commercial bank in the DRC.

According to ERG, Frontier mine, situated on the DRC-Zambia border, is a cornerstone of its copper business. It comprises an open-cast copper mine and processing facilities to produce copper sulphide concentrate, treating over 10Mt of copper sulphide ore annually.

ERG also recently signed a supply agreement for Metalkol, a major cobalt and copper tailings reprocessing operation and a low-cost hydro-metallurgical facility owned by ERG, to secure its electricity supply for up to 10 years.

Benedikt Sobotka, CEO of ERG, commented: "We are pleased to be able to achieve a reliable electricity supply for our Frontier mine. This new agreement further demonstrates ERG's commitment to the DRC and Zambia, and further cements our wider strategy on the continent as a whole."

Jean-Bosco Kayombo Kayan, SNEL Director General, said: "We are happy with the current agreement as it guarantees the continuity of the electric power delivery through the arrangements between Frontier, SNEL SA, ZESCO and Rawbank. Eventually we are aiming to supply Frontier from only internal sources in the DRC, where existing hydro-electric plants and power lines are currently being rehabilitated."

Victor Mundende, managing director of ZESCO, added: "The signing of this new agreement showcases the growing partnership between ZESCO and ERG, as well as a vote of confidence in ZESCO's ability to provide power to operations at Frontier mine. This is also in line with our vision to be the hub of power trading in the southern African region. In this regard, we remain committed to providing power supply to Frontier mine to the extent local power sources are unavailable."