Glencore’s Cobalt Supply To Be Tracked By Responsible Sourcing Blockchain Network Built By IBM
Glencore is a leading producer of cobalt metal, which is in rising demand due to its application for electric vehicles and portable electronics. Glencore has announced its new move to join the Responsible Sourcing Blockchain Network to support the sourcing and production practices of mines.
The aim is to address sustainability risks in the globalized mineral supply chains through compliance with specific sustainability schemes. Information is provided based on standards and certification including all sustainability aspects and links throughout the entire supply chain.
We are joining The Responsible Sourcing Blockchain Network – an industry collaboration utilising blockchain technology to support responsible sourcing and production practices from mine to market. Members include FCA, VW, Volvo Cars, LG Chem and Ford. https://t.co/hZ21ZdAyks pic.twitter.com/d7HATUYM9x
— Glencore (@Glencore) December 12, 2019
RSBN's membership will enable Glencore to deliver improved supply chain traceability and transparency and integrate good practice with its supply chain partners.
Glencore has begun the process of obtaining membership of RSBN by the end of February 2020. The diversified mining, processing, and trading operations by Glencore will support the network's expansion to cover other battery metals, including gold, tin, tantalum, and tungsten.
RSBN and Cobalt Tracing
RSBN is designed to be adopted across industries by original equipment manufacturers in automotive, electronics, aerospace, and defense as well as the supply chain partners in mining companies and battery manufacturers. The company completed a pilot project last month and is now planning to leave in spring, come 2020.
In a statement released by, Glencore the main focus of its involvement in the enterprise would be on cobalt. RSNB, under the IBM Blockchain platform, works towards accountability and affirmation of minerals from the mining sites to market. The planned project was announced early this year by IBM, and the members include Volvo cars, Huayo cobalt, Ford, LG Chem, and Fiat Chrysler Automobiles.
According to Nico Paraskevas, head of marketing and cobaltsaid,
“RSBN plays a key role in advancing the sustainable partnership between the producers of commodities that will enable the transition to a low-carbon economy and key consumers around the world.”