Draft:Benedikt Sobotka
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Benedikt Sobotka
[edit]Biography
[edit]Benedikt Sobotka is a prominent figure in the global mining and renewable energy sectors. He is known for his past leadership as CEO of Eurasian Resources Group (ERG) and his influential role in driving sustainable practices within the industry. He is founding partner at Germany-based VC firm Alpha Future Funds. Born in 1980 in Germany, Sobotka has an extensive background in the mining and energy sectors, previously holding various management positions at Boston Consulting Group (BCG) and advising multinationals globally.[1]. He is a member of the international advisory board of CATL, the world's largest producer of energy storage systems [2][3].
Business career
[edit]Eurasian Resources Group
[edit]Sobotka was appointed CEO of ERG in January 2014 [4]. Under his leadership, ERG became a significant player in the global mining industry, focusing on supplying critical raw materials essential for the green energy transition[5]. ERG is involved in various international organisations, such as the World Economic Forum, the United Nations Global Compact, and the Cobalt Institute. Sobotka is also the Co-Chair of the Global Battery Alliance (GBA)[6][7][8].
Alpha Future Funds
[edit]In 2020, Sobotka founded Alpha Future Funds, a venture capital firm based in Munich, Germany. Alpha Future Funds is an international investor in mineral resources and technology. The fund invests in transformative sectors such as energy, sustainability, artificial intelligence, robotics, digitalisation, software, and METS (Mining Equipment, Technology, and Services). Alpha Future Funds supports innovative companies driving technological advancements in these industries with notable portfolio investments, including Quello, Sensore, and TIMining. Through his role as founding partner, Sobotka continues to champion sustainable innovation and digital transformation across various high-impact sectors.
Vision for a greener future
[edit]Sobotka has articulated a clear vision for a greener future, emphasising the importance of sustainable mining practices and the role of recycling in the energy transition[9]. He believes that metals recycling will play a crucial role in balancing market dynamics as demand for metals like cobalt, nickel, and copper grows. He advocates for robust cross-industry partnerships and multi-stakeholder cooperation to accelerate the global energy transition[10].
In January 2024, during a ministerial roundtable at the Future Minerals Forum in Riyadh, Saudi Arabia, Sobotka emphasised the changing perceptions of the mining industry among decision-makers and the important role it will play in the green energy transition[11][12]:
“Governments were very uninformed about the importance of historical mining jurisdictions in the past. Suddenly, you have a room of 120 ministers that have a common understanding that minerals are important for the green energy transition.”
This statement follows claims that rules in certain jurisdictions hindering the adoption of electric vehicles (EVs) and battery technology inadvertently restrict funding for new mining projects essential for producing the metals required for the green energy transition. Sobotka claimed that around 60 new lithium and 40 new cobalt mines are still needed within the next decade to meet the global demand[13][14].
Investment into resource technology and sustainability
[edit]Sobotka has shown a keen interest in resource technology and sustainability. He co-founded Minerals Value Service[15], an analytics tool for the iron ore industry, and Advanced Membrane Systems, a nanofiltration company. He has been actively involved in promoting ethical and sustainable practices in the mining industry, notably through his role as co-chair of the Global Battery Alliance, which aims to create a transparent and sustainable battery supply chain. One of the Alliance’s notable achievements has been the announcement of the Battery Passport announced at the World Economic Forum’s Annual Meeting in Davos, in January 2023[16][17][18].
Understanding the pivotal role that critical minerals like cobalt, copper, and lithium play in driving the green energy revolution and in line with Europe’s push for self-sufficiency in raw materials, Sobotka has warned that world conflicts and supply chain concerns will continuously pressure raw material pricing[19].
Sobotka has described the current state of commodity markets as a "perfect storm" due to years of under-investment, supply shocks, high energy prices, and logistical challenges from COVID-19[20]. He predicts the onset of a commodity super-cycle that could last 30 years, driven by the energy transition's substantial demand for metals. This extends to his view that mining companies should invest in higher-risk jurisdictions due to the scarcity of new deposits in traditional mining regions like Canada and Australia[21]. Benedikt Sobotka has called the energy transition the “biggest purchase order in the history of the mining industry” and “copper is the most technology-agnostic metal of the energy transition”[22][23].
Sobotka emphasises that significant and consistent investment in primary production and recycling infrastructure is needed to secure raw material production and meet demand. He believes resources technology and innovation, some of which stem from smaller miners and SMEs, are key to meeting the surging demand driven by electric vehicles and renewable energy technologies.
Community and ethical contributions
[edit]Under Sobotka's leadership, ERG invested significantly in local communities, especially in the DRC, by building schools and supporting initiatives to reduce child labour[24]. The company is committed to operating in accordance with ethical business standards and supports numerous charitable organisations.
Sobotka has shared insights into ERG's strategic initiatives, including its investments in high-tech startups and efforts to improve ethical standards in the mining industry[25].
Personal life
[edit]Sobotka holds an MA in Management from the WHU-Otto Beisheim School of Management and has also studied at the Rotterdam School of Management, CEIBS Shanghai, and the Moscow Finance Academy[26]
Sobotka co-authored "China Champions: How German companies can successfully integrate China into their global strategies"[27], a Financial Times top 10 Bestseller, focusing on successful strategies for investment in China. In his personal life, Sobotka enjoys cross-country skiing, swimming, and classical music.
References
[edit]- ^ https://thebusinessyear.com/interview/benedikt-sobotka-saudi-arabia-2024/#:~:text=Benedikt%20Sobotka%20is%20the%20CEO,the%20mining%20and%20energy%20sectors.
- ^ https://www.linkedin.com/feed/update/urn:li:activity:7199608298742976512/
- ^ https://www.catl.com/en/news/6243.html
- ^ https://www.mining.com/web/eurasian-resources-replaces-sobotka-as-ceo-with-scion-of-founding-trio/
- ^ https://www.fastmarkets.com/insights/building-stronger-battery-raw-materials-supply-chains-for-energy-transition/
- ^ https://www.eurasianresources.lu/en/news/global-battery-alliance-where-erg-is-a-founding-member-laun
- ^ https://www.crown.co.za/modern-mining/industry-news/30312-erg-s-ceo-benedikt-sobotka-to-be-succeeded-by-shukhrat-ibragimov
- ^ https://africanminingmarket.com/eurasian-resources-group-appoints-new-ceo/19979/
- ^ https://www.eurasianresources.lu/en/news/High%20delegation%20of%20ERG%20supports%20Saudi%20Arabia%20for%20initiating
- ^ https://www.cnbcafrica.com/media/6313064012112/
- ^ https://www.ft.com/content/10ad3f32-6e56-4154-934d-72f8140ee81e
- ^ https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/metals/010924-ministers-at-future-minerals-forum-pledge-to-create-global-supply-chain
- ^ https://www.mining.com/hundreds-of-new-mines-required-to-meet-2030-battery-metals-demand-iea-report/
- ^ https://www.reuters.com/markets/commodities/davos-2023-erg-sees-copper-rising-high-demand-supply-worries-2023-01-20/
- ^ https://www.firstfriday-network.co.uk/blog/entry/benedikt-sobotka
- ^ https://www.weforum.org/events/world-economic-forum-annual-meeting-2023/sessions/why-we-need-battery-passports/
- ^ https://www.bloomberg.com/press-releases/2023-01-18/global-battery-alliance-launches-world-s-first-battery-passport-proof-of-concept
- ^ https://www.wsj.com/livecoverage/davos2023/card/global-battery-alliance-creates-digital-passport-to-enhance-battery-transparency-frAENAZ4EyWJSqKWiuG5
- ^ https://www.ft.com/content/11025069-32ca-402f-bffa-f73621d9e333?FTCamp=engage%2FCAPI%2F%5B%22news-monitoring-app%22+%22news-monitoring-app%22%5D%2FChannel_signal%2F%2FB2B
- ^ https://www.reuters.com/markets/europe/commodities-perfect-storm-says-erg-crisis-starts-super-cycle-2022-05-25/
- ^ https://www.weforum.org/agenda/2023/11/why-partnerships-are-critical-to-accelerating-energy-transition/
- ^ https://www.bloomberg.com/news/videos/2024-02-08/plays-key-part-in-green-transition-erg-ceo-says-video#:~:text=The%20energy%20transition%20is%20the,I%20like%20to%20call%20it.
- ^ https://www.bloomberg.com/news/videos/2023-06-28/eurasian-resources-sobotka-on-energy-transition-video?sref=AtHZuBBq
- ^ https://www.miningweekly.com/article/erg-africa-signs-community-development-plan-agreement-at-drc-asset-2023-08-16
- ^ https://im-mining.com/tag/benedikt-sobotka/
- ^ https://pressat.co.uk/releases/benedikt-sobotka-7f981930b4801d701e4542b3cd505490/
- ^ https://a.co/d/1mFfBha