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Glencore, CMOC and ERG to pilot blockchain solution for cobalt tracing

ASM cobalt operations in the DRC

ASM cobalt operations in the DRC

20th May 2021

By: Creamer Media Reporter

     

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Major metals and mining companies CMOC, Eurasian Resources Group (ERG) and Glencore are, in collaboration with battery material supplier Umicore, piloting ReISource – a solution to trace responsibly produced cobalt from the mine to the electric car.

Re|Source has been designed to proactively address the growing need for cobalt value chain visibility. It deploys various technologies, including blockchain and zero-knowledge proofs, to link digital flows with physical material flows on the ground.

Tested in real operating conditions, from upstream cobalt production facilities in the Democratic Republic of Congo (DRC) to downstream electric vehicle (EV) production sites, the pilot will run until the end of this year, with the roll-out of the final solution expected in 2022.

A global EV pioneer and one of the world’s leading battery makers are also participating in the pilot.

In addition to EV supply chain majors, Re|Source has also been developed with the involvement of a group of industry advisers and stakeholders.

To meet the consortium’s mission to ensure that all cobalt used in end products is sustainably sourced, Re|Source integrates a comprehensive set of industrial sustainable mining and sourcing standards and frameworks, such as the Cobalt Industry Responsible Assessment Framework (Ciraf) and Copper Mark, as well as those established by the Responsible Minerals Initiative (RMI) and the International Council on Mining and Metals (ICMM).

“Blockchain technology offers us an unprecedented ability for traceability in the supply chain. Through this pilot, we are supporting the development of this tool for our customers who seek to understand and demonstrate the origin of the cobalt units in their products.

"But traceability is not enough on its own, it must be part of a wider industry effort to bring improvements to the entire cobalt supply chain.

"This starts with responsible sourcing compliance, for example through the RMI; the collective use of wider environment, social and governance standards such as Ciraf and the ICMM; and supporting the artisanal and small-scale mining (ASM) sector in the DRC through multi-stakeholder initiatives like the Fair Cobalt Alliance (FCA),” Glencore CEO Ivan Glasenberg comments.

Re|Source also has a direct link with the Battery Passport project of the Global Battery Alliance (GBA), through ERG, Umicore, Glencore and other Re|Source pilot partners, who are members of the GBA.

The Battery Passport is aimed at transforming the entire value chain to make battery production more responsible and sustainable. The member companies believe these projects support each other and that, together, they will deliver on the overarching agenda of increasing sustainability in the wider battery supply chain.

“Re|Source is a very exciting development in the global battery industry. As a global leading producer and trader of cobalt, CMOC and its trading affiliate IXM are committed to the responsible mining, processing and use of cobalt.

"We believe this initiative will help increase transparency throughout the value chain," CMOC CEO Sun Ruiwen says.

ERG CEO Benedikt Sobotka adds that piloting the Re|Source solution is a milestone for the company, bringing it one step closer to unveiling the significant potential of batteries, while strengthening transparency and the sustainability of battery materials across the value chain.

“I am proud to support Re|Source in developing a technology solution to assure traceability in the entire battery industry.

"For many years, Umicore has been a pioneer in promoting a sustainable value chain by only offering battery materials of a certified and ethical origin.

"Today, we share our expertise within this innovatory consortium and participate in the pilot to develop an industry-wide traceability technology, which is an important step towards a sustainable value chain for all batteries,” comments Umicore CEO Marc Grynberg.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

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