Global diversified miner Glencore has entered into a five-year cobalt hydroxide supply agreement with rechargeable battery manufacturer Samsung SDI.
Glencore will supply up to 21 000 t of cobalt contained in cobalt hydroxide between 2020 and 2024.
The cobalt will be sourced from its mining operations in the Democratic Republic of Congo, which will be independently audited each year to ensure the supply meets the Cobalt Refinery Supply Chain Due Diligence Standard of the Responsible Mining Initiative.
Samsung SDI specialises in developing lithium-ion battery technology for automotive and energy storage applications.
“The supply agreement demonstrates a continuation of Glencore’s cobalt hydroxide marketing strategy to secure long-term supply agreements with key players in the lithium-ion battery supply chain.
“It also illustrates Glencore’s role in supplying the materials that enable the energy and mobility transition and Glencore’s commitment to responsible production,” says Glencore copper and cobalt marketing head Nico Paraskevas.