Metalkol RTR - ERG Africa

DRIVING THE WORLD'S GLOBAL ENERGY TRANSITION

ABOUT METALKOL

METALKOL

La Compagnie de Traitement des Rejets de Kingamyambo SA avec Conseil d'Administration (Metalkol SA or Metalkol)

Location: Kolwezi, Lualaba Province, DRC

Status: High-quality cobalt hydroxide and LME-grade copper
cathode producer

Ownership: 90% ERG, 10% DRC State

Products: LME-grade copper cathode and cobalt hydroxide

Nameplate capacity: of ~100ktpa of copper cathode and ~23ktpa of cobalt in hydroxide

Metalkol is a leading copper and cobalt producer specialising in the processing of historic mining tailings. Its operations support the sustainable recovery of minerals from the Musonoi River Basin and Kingamyambo, contributing to progressive environmental restoration and the economic and social development of local communities. Our operations play a key role in maintaining our position as one of the leading copper and cobalt producers globally.

Production and facilities

Metalkol's production facilities are designed to be highly reliable and efficient with a reduced environmental footprint.

Tailings are reclaimed from the Musonoi River valley through dredging and hydro-sluicing technology which uses high-pressure water to mobilise material with precision and minimal surface disruption. The resulting slurry is pumped to the processing plant, where dewatering optimises solids concentration before the material enters the leaching circuit. The dissolved metals are then recovered using established hydrometallurgical techniques to produce consistent, high-quality copper cathode and cobalt hydroxide.

Responsible production for a sustainable future

Metalkol is central to ERG Africa's commitment to circular economy principles and the restoration of natural ecosystems through a unique mining model enabling environmental restoration.

Metalkol delivers the highest levels of traceability and assurance. In 2025, this included the publishing of its fifth Clean Cobalt and Copper Performance Report and the successful completion of a fourth Responsible Minerals Assurance Process (RMAP) Assessment by the Responsible Minerals Initiative (RMI). Metalkol's alignment with the RMI Standards has been independently evaluated and verified, and we are publicly listed on the RMI Cobalt Refiners List.

RMAP is a flagship programme of the Responsible Minerals Initiative (RMI) which verifies the responsible sourcing of minerals and aims to deliver increased value chain assurance. The RMI is one of the most utilised and respected sources for companies from a range of industries addressing issues related to responsible sourcing in their supply chains.

In December 2025, RMI has re-confirmed again that Metalkol was conformant with the Assessment Standard for Joint Due Diligence Standard for Copper, Lead, Nickel and Zinc (2021) and Cobalt (2018). The comprehensive assessment consisted of a number of elements including the collection and review of objective evidence such as interviews with employees and the senior management, documentation, a facility walk-through, and other observation.

In 2026, Metalkol also became the first ever tailings processing operation globally to receive The Copper Mark. The Copper Mark is a leading independent assurance framework that assesses production sites against 33 ESG criteria, covering environmental management, labour practices, health and safety, governance and community engagement. This recognition reinforces our commitment to responsible and transparent operations and forms part of our continuous improvement journey.

Working at Metalkol

Metalkol's human resources policy prioritises local recruitment, talent development, knowledge transfer and succession planning. We aim to provide a safe and professional working environment where employees can develop their skills and contribute to the company's operations and success.

1. Our Workforce

In 2025, Metalkol's total headcount stood at 1,585* employees, 96% of whom are Congolese nationals. Women represented 10% of the workforce. Metalkol continues to strengthen the presence of women within its workforce, particularly in technical roles and positions of responsibility, by creating opportunities and expanding access across the full spectrum of functions within the industry. Our People Strategy is aimed at developing a resilient and innovative workforce to support the long-term sustainability of our business.

*Excluding contractors

3. Health and well-being

The health and well-being of our employees and their families is supported through a range of initiatives and access to dedicated medical services.

During 2026, Metalkol is implementing the rollout of the Medical Service Organisation (MSO) healthcare model, strengthening access to quality medical services for employees and their dependents.
Through the MSO network, employees and their families have access to a range of healthcare facilities and medical professionals, providing comprehensive primary healthcare, specialist services, diagnostic testing and treatment support. The system also facilitates improved case management for chronic conditions, medical evacuations where required, and specialist referrals both within the Democratic Republic of Congo and internationally when necessary.Occupational health services continue to be supported through Metalkol's onsite medical facilities, providing immediate medical care, fitness-for-work assessments, emergency response capabilities and occupational health surveillance.

The MSO rollout forms part of Metalkol's ongoing commitment to employee well-being, ensuring that employees and their families have access to quality healthcare services while supporting a healthy, productive and resilient workforce.

2. Remuneration and benefits

Metalkol is committed to maintaining transparent and constructive labour relations in compliance with the regulatory and labour frameworks of the Democratic Republic of Congo.

The company recognises and fully respects employees' rights to freedom of association and collective bargaining. Employees are represented by trade unions in accordance with applicable labour legislation, where 98% of employees are unionised and regular dialogue is maintained between management and union representatives. Meetings are held on a quarterly basis and, when required, to address specific matters.

Employment conditions, remuneration and benefits are established in accordance with applicable labour laws and the collective agreement in place. Metalkol offers competitive remuneration in line with collective agreements and legislative requirements.

In addition, permanent Congolese employees benefit from a range of social provisions, including housing support, transport allowances, school fee assistance and family-related benefits.

Key environmental management initiatives

Waste and circularity

Our strategy prioritises our contribution to the well-being of communities in our regions of operation; this includes a focus on the safe management of our large-scale waste storage facilities, as well as responsible approaches to waste management, recycling and the promotion of a circular economy.

Biodiversity measures

At Metalkol, the approved 2022 ESIA includes a Biodiversity Management Plan setting clear commitments for biodiversity conservation, habitat protection, and impact mitigation. Metalkol's environmental efforts also focus on water stewardship and aquatic ecosystem protection, including through partnership with UNILU (Université de Lubumbashi) on aquatic ecosystem protection (2024-2025) and previously on research to identify plant species tolerant to tailings-affected conditions to support rehabilitation and ecological restoration.

Water management and stewardship

Metalkol operates a closed-loop water management system that maximises water reuse and minimises water discharges. No process water is discharged from the operation, with only surface runoff water being released through discharge points. All discharges are continuously monitored in accordance with ESIA commitments and applicable legal and regulatory requirements.

Through its Water Stewardship Programme, Metalkol adopts a catchment-based approach to water management, incorporating ongoing surface water and groundwater monitoring, water balance management, stakeholder engagement and transparent reporting of monitoring results. The programme aims to protect shared water resources, support informed decision-making, and contribute to the sustainable management of water within the communities and ecosystems surrounding the operation.

Pollution management

To address pollution, Metalkol implements an Environmental Management System which is informed by ISO 14001 and includes procedures and plans related to pollution risk management including water, soils, air quality and noise.

Climate action or decarbonisation efforts

To mitigate carbon dioxide equivalent (tCO2e) emission, Metalkol has optimised the mining methodology of load and haul stockpile to dredge mining, has improved maintenance and operational efficiencies, and the diesel generated powerhouse was optimised with the contractor to reduce emissions by 20%. The power procurement with SNEL has also been expanded in scope to increase hydro-electric power supply. Metalkol has also partnered with a third party to deliver an AI-solution used by the United Nations, to reduce the site carbon footprint over the life cycle of our products. The solution will aim to deliver a comprehensive integrated climate change reporting, mitigation and adaptation strategy and plan. Metalkol also works with its customers on climate to gain and share insights on decarbonisation plans, as well as identify projects that could accelerate sustainability performance of the common value chain.

Rehabilitation of Nseke RO Line with SNEL

As part of our long-term energy philosophy centered on reliability, resilience, and sustainable growth, Metalkol led the development of a 49 km, 120 kV transmission line connecting the Nseke Hydropower Plant to the Western (RO) Substation. This project goes beyond infrastructure development; It represents a strategic intervention to reinforce the regional power system while ensuring operational continuity for mining activities.

This project reflects Metalkol' s proactive approach to:

Reducing dependency on unstable grid segments

Lowering operational costs linked to power disruptions

Advancing low-carbon energy integration through hydropower utilization

Strengthening collaboration with SNEL and regional stakeholders, by unlocking additional power flow toward Kolwezi, the project contributes to local economic growth and electrification, reinforcing Metalkol' s role as a responsible industrial partner.

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Key environmental management initiatives

Uplifting the communities where we operate

Ongoing investment in Cahier des Charges, DOT 0,3% and payment of our mining royalties (redevances minières).

Investment areas:

Water
Agriculture
Education
Health
Protection of human rights
Infrastructure development

Other voluntary initiatives include:

Building new boreholes and repairing existing ones to improve local water supply

Conducting human rights awareness programmes, including training in the Voluntary Principles on Security and Human Rights (VPSHR) for private security personnel.